A company owned by a Russian billionaire Vadim Moshkovich is buying a plot of land on the northeastern Moscow from the owner of Stockmann in Russia, RIA Novosti reports on Monday.
The plot of land is intended for developing housing, and the project is expected to be the largest one for Vadim Moshkovich after his return to the developer business, RBC newspaper reports.
“Level Group of ex-Senator Vadim Moshkovich is buying 6.5 hectares at the address: Amurskaya street, house 3, north-east of Moscow, near “Cherkizovskaya” metro station. The transaction will be closed in the coming weeks. The sellers in equal shares are the general director at MR Group, Roman Timokhin, and Yakov Panchenko, the main shareholder (70%) of Reviva Holdings, which manages under a franchise the chains of Debenhams and Stockmann in Russia”, — the newspaper specifies.