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Abramovich to Invest $1Bln in Skolkovo Real Estate Project

Russian billionaire Roman Abramovich will invest up to $1 billion in Skolkovo-Park, an executive from his investment vehicle Millhouse said Tuesday.

Millhouse has already invested $400 million in buildings located in Skolkovo-Park and is planning to spend up to $1 billion in total, the company's development head Igor Pyatibratov said Tuesday.

Skolkovo-Park is real estate and park development located on the edge of Moscow.

It is expected to be completed by 2018 and includes a makeover of Meshchersky Park, new transport facilities, residential buildings and a large golf course, according to Millhouse.

(RIA Novosti)

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