OREANDA-NEWS. October 21, 2011. Michael Shishkhanov, the owner of Binbank, coming out of the construction project Rublevo-Arkhangelsk. The buyer of 90% stake of the company will be “Perspective investments”, part of Sberbank of Russia.

Rublevo-Arkhangelsk is located in Krasnogorsk district of Moscow region. The area of “the city of millionaires” is 430 ha. According to the initial concept, the construction of premium residential estate with the total area 2.7 ml sq. m was planned there.

The concept of the project was corrected in 2008 by Suleiman Kerimov, who builds Rublevo-Arkhangelsk. According to the new project the area of Rublevo-Arkhangelsk was doubled and assumed building of business class residential estate. Thereafter the project was sold to Michael Shishkhanov (90%) and Sberbank (10%). According to Marat Khusnullin, the head of Moscow's construction sector, the International Finance Centre (IFC) announced by the President Medvedev could easily accommodate in Rublevo-Arkhangelsk.