Kazakh Bank Enters Russia's Real-Estate Market
October 25, 2006
A view of the Siberian city of Novosibirsk (file photo) (RFE/RL)
Russia's "Vedomosti" economic daily today quotes Halyk Bank Chairman Grigory Marchenko as saying that, as part of its first project in Russia, it will invest $45 million in the construction of a large shopping mall in the central Siberian city of Novosibirsk.
Marchenko says the project will be completed next year.
"Vedomosti" says Halyk Bank is considering other projects in Moscow, St. Petersburg, and regions neighboring Kazakhstan.
Halyk Bank is the third Kazakh bank, after Kazkommertsbank and Bank TuranAlem, to invest in Russia's realty market.
("Vedomosti")