Don-Stroy To Develop One Million Square Metres On Baturina’s Land

Comment by Andrey Borodin: Here’s another proof of the fact that allegations and convictions against me and my colleagues are utter nonsense. A plot of land that was used as collateral against the loan granted by Bank of Moscow and according to Russian state prosecutors was worthless turns out to be an investor’s Klondike.

Vedomosti

As Vedomosti learnt, in December 2016, Moscow’s Urban Planning and Land Commission approved a development project of 160 hectares of the areas located within the territory between Lobachevsky Street, Moscow to Kiev Railway, Michurinsky Avenue and the Ramenka River. An official of the Moscow City Government said over 1.3 million sq. m. of real estate assets are planned to build here. The bulk of the development project will affect a 58-hectare plot that was previously owned by Elena Baturina and became the subject matter of a number criminal proceedings involving the Bank of Moscow, said an unnamed source close to the Bank. 1,15 million square metres are to be developed there. Konstantin Timofeyev, the chairman of Moskomstroyinvest, or Moscow’s Development and Investment Commission, said that CJSC Don-Stroy will be the investor of the project. Continue reading