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January 19, 2007

The government of Moscow retired the part of the real estate of the Close-Ended Real Estate Investment Fund (CERIF) Metropol Olymp under management of AM METROPOL which had earlier belonged to Open Society “Moskvich”

As a result of the contract on 3,621 billion rubles, 24 objects of the uninhabitable real estate located on the area about 50 hectares (540 thousand m2 of industrial areas and 18 thousand m2 of the House of culture of “Moskvich”) passed in the property of the city.
According to the capital officials, the purchased areas will be used for needs of “Avtoframos”, that issues Renault Logan automobiles and also for development of own manufacture of accessories and spare parts which are planned to be delivered to "Avtoframos".
In structure of property CERIF Metropol Olymp remained a considerable part of the uninhabitable real estate of “Muskvich”, about 20 hectares, on so-called "old platform" located on the internal party of the Third transport ring at crossing with the Volgograd prospect.
Realization of the investment project on reorganization of the industrial territory with the subsequent construction of new objects of uninhabited purpose is planned on this territory. The preference will be given to the commercial real estate of B+ category, 3-4 stars hotels and trading-entertaining complexes. The speculative volume of investments into the project can reach $1 billion.
Realization of the given project is planned to be carried out with participation of the company Metropol Development, the company within the METROPOL Group. In the nearest future the tender for development of the architectural concept of development of territory will be organized. The leading architectural and consulting companies will be involved in work.

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"METROPOL" Investment Financial Company Ltd.
Phone: 8 (495) 933-3310
Address: 13 bld 1 Donskaya str, Moscow, Russia 119049