OREANDA-NEWS. On April 03, 2008 Sistema-Hals OJSC (LSE, MICEX, RTS: HALS), one of the largest diversified real estate companies in Russia and the CIS, has announced the sale of project 22 Rochdelskaya in Moscow, reported the press-centre of Sistema-Hals.

"The deal is part of our ongoing asset management strategy. Detailed analysis of our development pipeline indicates that it would be more cost effective to invest the funds received from the sale of the 22 Rochdelskaya project into other current projects." comments Sistema-Hals' Vice President Igor Kashcheev.

The land plot (0,29 hectares) allowed for the development with gross building area of about 13 000 sqm is situated in the center of Moscow close to the House of Government.