Immofinanz Strives for Presence in Russia

Lifestyle & TravelPersonal Real Estate ♦ Published: May 3, 2011; 12:03 ♦ (Vindobona)

The Austrian real estate group plans to expand its activities further through the purchase of shopping centers in Moscow.

Immofinanz Strives for Presence in Russia / Picture: ©

Immofinanz foresees Russia as a significant future market. Two shopping centers in the Russian capital are currently the focus of interest. In this sense, Immofinanz intends to increase its current 50% share of the “Solotoi Wawilon"(Golden Babylon) Center.

According to CEO Zehetner, an agreement has already been reached with the Russian partner. The investment so far amounts to…