The Israeli tycoon owns 66% of the real estate company.
A general shareholders meeting of Ocif Investments and Development Ltd. (TASE: OCIF) today approved the purchase of land in Moscow owned by the company's controlling shareholder Arkadi Gaydamak for $100 million. The 219-acre lot is owned by OOO StroyLider, a private company wholly owned by Gaydamak.
StroyLider paid $25 million for the land in April 2007; Gaydamak is making a 300% return on investment in less than a year. The lot is located in the Leninsky district in a Moscow suburb on the road to Kiev. The lot is zoned for a 250,000-square meter logistics center, 40,000-square meter office bloc, and a 270-room hotel.
Tuesday, February 12, 2008
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