6 Jul '09
Moscow company Atlas Torgovli is to invest $111m building an underground mall in Nizhny Novgorod, regional officials report.
The company reportedly set up a special firm to carry out the project – Modnaya Ploschyad Nizhny Novgorod.
The mall is to be built on a 12,400-square-meter land site on Gorky Square in the city center, rented to the company by the regional authorities for 49 years.
Under the project, the mall is to have network of underground passages and parking lots.
Construction is scheduled to begin in two years. Further timeframes for the project have yet to be announced.