Moscow region land belonging to the presidential administration will be developed with housing, a golf course, polo club, stables for 250 horses and a helipad, Gazeta.ru reported Friday.
Co-investors in the $1 billion project are the Olympic City Group and Orionpropertyfund. Those organizations do not make the identity of their shareholders public. Mezhtopenergobank, which is associated with former Rusnano head Leonid Melamed, will partially finance the first phase of construction.
According to Chesterton real estate agents, the complex will occupy more than 450 hectares on the 26th kilometer of Rublyovo-Uspenskoye Shosse. It will consist of 210 houses and 60 townhouses, for a total of 200,000 square meters of housing. Construction of the first houses is to be completed in 2013.