Russian property group Sistema-Hals has announced the sale of its 22 Rochdelskaya project in central Moscow. The company said that the move is part of its ongoing asset management strategy. 'Detailed analysis of the development pipeline indicates that it would be more cost effective to invest the funds received from the sale of the 22 Rochdelskaya project into other current projects', said Sistema-Hals vice-president Igor Kashcheev. The project consists of a development with gross building area of about 13 000 m[sup]2[/sup] in the center of Moscow close to the House of Government. Sistema-Hals is active in development, project management and construction in the Russian and CIS real estate market .
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