PropertyEU

Mirland plunges in the red, slashes dividend

By A staff reporter 2009-03-19T00:00:00

Mirland Development swung to a loss of $104 mln (EUR 76 mln) in 2008 from a profit of $70 mln a year earlier, mainly due to currency devaluation and a negative fair value adjustment to its property portfolio. The Russian property developer said Net Asset Value fell 60% in 2008 ...

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