27 Jun '08
Moscow-based developer Mezhregionalnaya Investitsionnaya Kompaniya has announced $250m plans to build a multiplex in Nizhny Novgorod.
Under plans, the 150,000 square-meter center is to include a hotel, retail areas, restaurants, and children's play areas.
Announcing the move, the firm's chief executive Nikolay Maslov said a site has been agreed with the authorities on the Yarmarochnaya Embankment, named after the city's Yarmarka (Fair Ground) next door.
Mr Maslov added that construction would get underway this year but stopped short of naming an opening date for the center.