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Deutche Bank to Invest $1bln in Housing Projects in Russia
Deutche Bank is willing to arrange the $1-billion funding for the real estate projects in Russia in 2007, Interfax announced with reference to Yury Soloviev, who is in charge of Russia’s and CIS trading operations of the bank.
The amount of $1 billion will also cover the own acquisitions of Deutche Bank, Soloviev specified. The forms of funding could be diverse, starting from debts financing to arranging the loans and pledges or making direct acquisitions, including via the IPOs, Soloviev said.
According to Soloviev, Deutche Bank has picked out some definite projects for funding already. Its interest extends from Moscow and St. Petersburg to the regions of Russia, and the chosen projects relate both to business and residential real estate.
Deutche Bank has undertaken to provide up to $600 million to construct Moskva (Moscow) Hotel in Russia’s capital, it was announced earlier.
www.kommersant.com
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