Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Polonsky Sells Khimki Land

Mirax Group founder Sergei Polonsky is selling land in Khimki, including some along the route of the disputed Moscow-to-St. Petersburg highway, Kommersant reported Wednesday.

Polonsky and Azimut Hotel group chief Alexander Klyachin co-own more than 700 hectares worth about $420 million in the district just north of Moscow. About 140 hectares of it is now being sold for between $6,000 and $8,000 per 100 square meters, about 40 to 50 percent below the market price. Sources linked the sale to Mirax Group's debt, which runs to $593 million, the paper said.


Read more