| 14.10.2008 - Moscow: Economy hits building boom |
| From Washtimes.com: Moscow's decadelong building boom is falling victim to the global credit crunch as record high interest rates squeeze developers in the world's third-most expensive property market. "Loan rates have climbed to ridiculous heights, and the terms are very short," said Dmitry Lutsenko, a board member at Mirax Group, the Moscow-based company that's building the city's Federation Tower, which will be Europe's tallest tower when completed in 2010..... Full Article: Source |