Russian billionaire to invest $1 bn in development projectsFebruary 29th, 2012 - 10:05 am ICT by IANS
Moscow, Feb 29 (IANS/RIA Novosti) Open Investment (OPIN) development group, owned by billionaire presidential candidate Mikhail Prokhorov, will invest about $1 billion in several development projects in Russia in the next few years.
According to an OPIN statement, the group intends to build three multi-apartment residential compounds of elite, business and economy categories with a total floorspace of over 600,000 square metres.
It also has plans to build three cottage communities in an area of over 500 hectares and two large shopping malls with over 40,000 square metres.
The group will present its development projects at an oyster press lunch at the international MIPIM 2012 real estate show to be held in Cannes, France, in early March.
Prokhorov, whose fortune is estimated at around $18 billion, is the only independent candidate running in Russia’s presidential elections this Sunday (March 4). He is ranked by Forbes as the country’s third richest man.
Prokhorov will run against Putin and three others in the polls.
- Russian tycoon may run for president - Sep 03, 2011
- Russian protests may turn into civil war: Billionaire - Jan 31, 2012
- Russia enters 'day of silence' - Mar 03, 2012
- Russia losing space race: Poll - Apr 13, 2012
- Putin top campaign spender - Mar 02, 2012
- 700 observers to monitor Russian presidential poll - Mar 01, 2012
- Putin, Medvedev may name third candidate for president - Jul 05, 2011
- Support for Putin on the rise, survey shows - Jan 13, 2012
- Putin registered as presidential candidate - Dec 20, 2011
- Poll predicts first round victory for Putin - Feb 21, 2012
- Russian tycoon to invest $1 bn in US real estate - Dec 21, 2011
- Russians head for polls to elect new president - Mar 04, 2012
- Medvedev urges United Russia to ensure Putin wins - Dec 18, 2011
- Putin pledges 400 ICBMs for Russia in 10 years - Feb 20, 2012
- (After 2) Russia all set for an interesting presidential poll - Dec 21, 2011
Tags: billionaire, bn, cannes france, development group, development projects, feb 29, forbes, hectares, independent candidate, mikhail prokhorov, mipim, oyster, presidential candidate, presidential elections, putin, residential compounds, ria novosti, richest man, shopping malls, square metres