London-listed property developer AFI Development has agreed to acquire 24,126 m[sup]2[/sup] of built-up land on the Yauza River in the centre of Moscow for $104 mln (EUR 76 mln). The company said it has also agreed to acquire the development rights for an adjoining 2.67-hectare plot for the development of a 231,680 m[sup]2[/sup] mixed-use scheme expected to cost a further US$465 mln.
London-listed property developer AFI Development has agreed to acquire 24,126 m2 of built-up land on the Yauza River in the centre of Moscow for $104 mln (EUR 76 mln). The company said it has also agreed to acquire the development rights for an adjoining 2.67-hectare plot for the development of a 231,680 m2 mixed-use scheme expected to cost a further US$465 mln.
The adjoining plot will be used for the construction of an 80,000 m2 hotel and residential scheme, 80,000 m2 of office space and 67,000 m2 of underground parking space.
