RGI up on Moscow property shift

Moscow-focused property developer, RGI International, says new planning laws led to losses in 2011, as it sought to target the residential sector and sell the Tsvetnoy shopping centre.

Moscow-focused property developer, RGI International, says new planning laws led to losses in 2011, as it sought to target the residential sector and sell the Tsvetnoy shopping centre.

The group made a pre-tax loss of $55.9m during the year, better than the market expectation of a loss of $92.3m.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.