Russia: Start of Moscow markets reconstruction planned

The government of Moscow has selected the first investor, who is ready to start work on the reconstruction of three Moscow markets: Northern Market (Babushkinskaya metro station), Koptevsky Market (Voikovskaya metro station) and Lyublinsky Market (Tekstilshiki metro station). The Managing Company of Rostick Group of Mr. Ordovsky-Tanaevsky Blanko, and more precisely its subsidiary Corpestate Company is most likely to become the planned investor for this project.

The Vice-Director of the Board of Trade and services in Moscow, Mr. Dmitry Krasnov stated that participation of Corpestate will become a part of city’s new policy, which promises that by 2015 modern covered market places will replace the street markets which exist in the city at the moment.

- There are two ways – selling the area to private investor or signing a targeted investment contract which settles the city requirements to the construction object , - the Moscow Official said.

The Rostick Group comprises of RosInter Restaurants Holding (Il Patio and Sushi planet), and a network of tour agencies and health hypermarkets. The subsidiary company Compestate deals with real estate and logistics.

Source: www.retail.ru