U.S. fund clinches Russia’s largest ever real estate dealJanuary 17, 2012 - 12:05 AMT PanARMENIAN.Net - A U.S. investment fund has agreed to buy a shopping mall in downtown St. Petersburg for $1.1 billion, in Russia’s largest ever real estate deal. Morgan Stanley Real Estate Fund VII will purchase the Galereya (Gallery) center from Meridian Capital, run by a group of Kazakh investors, sources close to the transaction told Vedomosti business daily. The purchase of the mall, St. Petersburg’s largest, is expected to be completed later this month. If completed, the transaction will be the largest on Russia’s real estate market, business analyst Sayan Tsyrenov told Vedomosti. Galereya opened in November 2010 and features 290 stores, a 10-screen movie theater, and a 27-lane bowling alley. Morgan Stanley and Meridian Capital were not available for comment, RIA Novosti reported. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. |