In a move timed to take advantage of falling property prices in Russia, Czech billionaire Petr Kellner is trying to buy the Atrium shopping complex in Moscow. Citing the Russian Rambler News Service, Hospodářské noviny writes that Kellner’s PPF Real Estate Russia is not the only potential buyer. It will have to compete with US investors Morgan Stanley and South Korean Lotte Group. The owner, the Russian construction company Ingeokom, is targeting a USD 400m (CZK 9.8bn) price tag for the 100,000 sqm shopping center located in the center of Moscow near the Kurskaja railway station.
