Russian property developer Mirland Development Corporation saw pre-tax losses narrow to $16.4 mln (EUR 11 mln) for the first nine months of 2009, compared to a loss of $37.1 mln in the same period a year before. Rental income dropped by 18% year-on-year to $11.1 mln in the first nine months of 2009, from $13.5 mln registered in the same period a year before. The reduction was largely attributable to a decrease in occupancy levels and rents, Mirland said.
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