OREANDA-NEWS. On 04 July 2008 was announced, that Joint Stock Company “Open Investments”, the Moscow-based real estate development and investment company, continues to implement its strategy aimed at building the land bank and announces a successful closing of significant transactions. As a result, the Company has gained control of over approximately 6,414 hectares of land in the Moscow and Tver Regions. Most of the territory is located along the corridor of one of the most efficient transport routes – Moscow-St. Petersburg highway.

Sergey Bachin, General Director of “OPIN”, commented on the transactions: “As a result of these transactions the total land bank of the Company has more that doubled and exceeded 12,000 hectares. In the future JSC “OPIN” intends to implement on the acquired land plots large-scale integrated Master-Plan community development projects, including residential and commercial real estate construction. The Company is considering the possibility of building lifestyle communities with well-developed infrastructure, for not only the deluxe segment of the market, but also for the fast-growing middle class segment as well.”

Andrey Klishas, Vice-president, Chairman of the Board of Holding Company Interros (ZAO) noted: “The new acquisitions are in line with the Company’s investment strategy and represent a significant confirmation of Company’s status as undoubted leader in the residential and commercial real estate market segments.”