Russian billionaire to invest $1 bn in development projects

MOSCOW: Open Investment (OPIN) development group, owned by billionaire presidential candidate Mikhail Prokhorov, will invest about $1 billion in several development projects in Russia in the next few years. 

According to an OPIN statement, the group intends to build three multi-apartment residential compounds of elite, business and economy categories with a total floorspace of over 600,000 square metres. 

It also has plans to build three cottage communities in an area of over 500 hectares and two large shopping malls with over 40,000 square metres.

Link (submitted by Sun Jin)