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R.G.I International, a developer of quality residential and commercial properties in Moscow and the surrounding areas, saw positive sales momentum in its V-Lesu residential development with cash collections 35 per cent higher than in the previous quarter.

R.G.I International, a developer of quality residential and commercial properties in Moscow and the surrounding areas, saw positive sales momentum in its V-Lesu residential development with cash collections 35 per cent higher than in the previous quarter.

452 apartments have now been sold bringing the total area sold from Phase 1 to 29,095 sq. metres. The share of sales financed by mortgage contracts in the first half was around 60%, reflecting the high number of occupier rather than investment purchasers within V-Lesu's customer profile. Sales at the Tsvetnoy Central Market department store continued to improve, up 89% year-on-year in the second quarter. Total store sales for the first half were about double those of the first half last year.

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