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Government in talks with investors about sale of real estate after Olympics

November 12, 2013, 12:29 updated at: November 12, 2013, 15:52 UTC+3 MOSCOW
First deputy prime minister said some of the investors would like to sell their facilities immediately
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© EPA/HANS KLAUS TECHT

MOSCOW, November 12, 12:29 /ITAR-TASS/. The Russian government is already negotiating with investors the sale of real estate after the Olympic Games in the Russian Black Sea resort of Sochi, First Deputy Prime Minister Igor Shuvalov told a Russian part of the Russian-British intergovernmental committee for trade and investment.

“It is impossible to sell in a jiffy a big amount of real estate that will come into the market (after the Olympic Games),” Shuvalov said, adding that the government was trying to solve the problem and was “holding negotiations with investors”.

The first deputy prime minister said some of the investors would like to sell their facilities immediately, but this amount “will kill the market in the region for years to come”. With that in view, he urged them to take a prudent approach of the problem, saying in particular, that negotiations were currently in progress on support for some investors.

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