Russia's Mirax Group aims to become the country's leading vendor of offices and business and luxury apartments by 2010, Mirax's chairman Andrei Kletsko told delegates at the Euromoney Conference in London. Kletsko said Mirax, which issued credit notes worth $100 mln last February, plans to create a real estate fund to finance the acquisition of new projects, issue Eurobonds and launch an initial public offering following the reorganisation of the company.
Russia's Mirax Group aims to become the country's leading vendor of offices and business and luxury apartments by 2010, Mirax's chairman Andrei Kletsko told delegates at the Euromoney Conference in London. Kletsko said Mirax, which issued credit notes worth $100 mln last February, plans to create a real estate fund to finance the acquisition of new projects, issue Eurobonds and launch an initial public offering following the reorganisation of the company.
At the end of January, Mirax said it planned to build commercial and residential real estate in partnership with peer Altius Development. Under the alliance, some 500,000 m2 of new commercial and residential space for a total investment of $2 bn will be added in Moscow. The scheme will also include some office space and will be developed in two phases, with the first set for completion in the coming five years.
