SU-155 lands contract

The contract for the redevelopment of a residential district in Balashikha, in the Moscow Province, Russia, has gone to Russian developer SU-155.

Market research and consulting company PMR said that the redevelopment work would be carried out on a 48.3ha site adjacent to Pushkinskaya Street, Vostochnaya Street, 40 let Oktyabrya Street, Lenina Avenue and the Balashikhinsky forest.

The project will involve the demolition of derelict housing, along with the construction of 364,000m² of new properties and 14,500m² of non-residential structures – mainly social amenities.

PMR said that RUB15 billion (€375 million) would be invested in the redevelopment project.