Russian Developer Sells Land To Settle Debts
A Russian developer is selling large plots of land at discounted prices to settle debts. The company previously purchased these land parcels for future construction projects. A reduction in demand for new construction has impacted the company's ability to use these assets as bank collateral. The developer has expressed criticism of the Central Bank, though analysts suggest this may be due to a long-standing personal dislike rather than a specific economic indicator.
Topics
Developing
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Sources · 7 independent
Radio Svoboda
“Сейчас они по долгам рассчитываются в том числе вот этими участками земли. Но применительно к будущему строительству у них произошло довольно сильное сокращение спроса.”
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