Support The Moscow Times!

AFI Buys Garage

LONDON — AFI Development said Friday that its subsidiary Bellgate Constructions has signed a contract with the Moscow municipal organization Tsentr-City relating to the acquisition of the parking area under AFIMall City.

The company will pay a total of 4 billion rubles ($126 million) for the parking complex, the construction of which is approximately 65 percent completed.

Payment will be made in four tranches starting from January 2012 till February 2014. The transaction requires Bellgate to transfer certain areas in the parking complex back to Tsentr-City on completion of the construction phase.


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.