Moscow's mayor Yuri Luzhkov has granted approval to construction company LLC Arsenal for its retail complex development in the southern administrative district of the Russian capital. The scheme will be developed on a 1.1-hectare area and will comprise 34,220 m[sup]2[/sup] of retail space. It will include a Russkoe Bistro national restaurant. Construction is scheduled to start this year.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
