Midland Group stops projects in Moscow
Money, which Midland Group has received from sale of office to the Savings Bank, has not rescued it from crisis. The company has paid off under credits, but it is compelled to freeze construction of more than 1 million sq. meters of the real estate in Moscow.
Midland Development (Midland Groups affiliate) freezes construction of major parts of Moscow projects.
As it has become known, because of limitation of access to credit resources the company stops approximately about 1 million sq. meters of the real estate objects in Russian capital.
Techno Park on a place of Moscow bus factory is among the largest frozen projects.
Earlier Midland Development has already frozen program Strip Mall.
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