According to vice-premier of the Republic of Tatarstan, Minister of Information and Communications Nikolay Nikiforov, construction of IT-Village, where assumed to live and work 20 thousand experts of IT tecnologies, will begin in spring of 2012, reported digit.ru. The decision to build innovation center IT-Village with total area 12 million square meters in Verkhneuslonsky region of Tatarstan was adopted in 2010. Tatarstan has signed an agreement with leading Singapore company RSP Architects&Engineers PTE Ltd to develope a master-plan for this undertaking. In this IT-Village, situated in 35 kilometers from capital Kazan, will be developed all necessary modern infrastructures to live and work. Singapore company has identified the main concept of this project as "Live, learn, work and play". The project will be implemented as a public-private partnership. According to preliminary estimates, the total cost of project could range from 90-120 billion rubles. However, according to Minister it will depend on investors and developers. As reported in article, the construction of IT-Village will start at spring 2012 and complete after 5-7 years.

The historic hall of the Bolshoi Theatre of Russia will reopen its doors to public on October 28 with gala-concert, which will broadcast in 600 cinemas around the world. Bolshoi Theatre closed for long-planned reconstruction on July 2, 2005. Renovation was scheduled to be completed in 2008, but it was clear that the contractor could not meet the deadline. The Bolshoi Theatre was waiting for reconstruction for more than 115 years. The primery objective was to move the building to the new base, as the former was destroyed and builders were afraid to start any work. The building stood on oak piles, which have alredy been destroyed. During current renovation rotting wooden piles were removed, and now the building stood on 7 thousand steel piles. After new base appeared main contractor built an impressive underground portion, therefore the total floor area of the theatre doubled from 40 to 80 thousand square meters. On 5 floors of underground part of complex will be situated lifting, lowering and rotation gears of the stage, the scenery automatic feeding/moving devices, a chamber and rehearsal halls. According to spokesman of main contractor "Summa Kapital" Mikhael Sidorov, the main result of reconstruction was recovery theatre's XIX century acoustics. To do so, the main hall is made more freely - now there are 1740 seats instead of 2100 the cement floor of the main hall was removed and the orchestra pit and so on. Now underway a second stage of desalting columns of the main facade of the Bolshoi Theatre, aimed to secure the historic original ivory color of the stone.

According to lenta.ru, Tashir Group opened US$ 120 million shopping and entertainment complex RIO in Yaroslavl. With 70 thousand square meter total area, complex is situated on Tutaevsky road between regions Bragino and Kirovsky. This is the company's sixteenth shopping and entertainment complex, and Tashir Group planned to open another two in Saint Petersburg and Vologda. The complex includes a shopping gallery, a grocery hypermarket, Sportmaster specialized shop, 4-hall cinema, sport and entertainment centers, bowling, billiards, restaurants, 800 parking lots, etc. Tashir Group, one of the largest real estate holdings in Russia, was founded by Samvel Karapetyan in 1999. The Group builds shopping centers, office and residential complexes, warehouses, hotels in Moscow and in other regions. Up to 2011 the company has already built more than 60 commercial propeties with total area 1,2 million square meters. It should be also noted, that RBK's journal June issue included the raiting of the largest developers in Russia. The second place took Tashir Group with US$ 1.73 billion turnover. RBK's rating was based on company's figures, analysts' estimates, as well as their own data.

According to constructiondigital.com, Russian President Dmitry Medvedev fears that Russia's construction plans for the 2012 Asia-Pacific Economic Cooperation (APEC) Summit may face delays. Russia has been undergoing several construction projects in preparation for the APEC Summit, the first of many world events that the country will be hosting in the next decade. The country will also be hosting the 2014 Winter Olympics, a Formula 1 car race in 2015, the 2016 Ice Hockey World Championship, and the 2018 World Cup. The Russian government has committed 662.9 billion rubles ($23.8 billion USD) for construction projects on the surround infrastructure around the island and the nearby city of Vladivostok. The 150 year-old city is home to a population of 616,740 citizens. As reported by kommersant.ru, during presidents official visit to island Russky was found that for a year before summit, in Vladivostok are ready only 20 percent of planned five-star hotels and this 20 percent represent a pair of concrete skeletons. Medvedev has ordered Russian officials to design a backup plan in case a suspension bridge being built on the island isn't prepared in time. Another bridge currently under construction over Vladivostok's Golden Horn Bay may also be as much as a full year behind schedule. Over 26,000 workers are involved in the construction projects on different facilities, including more than 11,000 foreign citizens. For a year before in island only 53.7 percent of construction projects were ready. The whole project includes over 96 buildings and only 6 of it were put into operation. Construction of 69 buildings is anderway and 13 are in the plannig stage, another 6 didn't even begain to design, marked kommersant.ru. Despite of all this delays, during his official visit Russian President Dmitry Medvedev summed up - '' one may long to adjust deadlines for construction objects. However, the APEC summit will open on September 1, 2012, and this date can't be moved''. Russia was awarded the role as host for the APEC Summit during the group's 2007 meeting in Sydney, during the second term of then-President Putin who sought to increase the country's role with other Asian countries. Last year, China became Russia's top trading partner with trade jumping by 50 percent to $59 billion.

As reported by Regnum news agency, according to A-Realty Group real estate agency, the cost per square meter in the center of Moscow is reaching half a million rubles ($18,000). The average price per square meter in the center has reached 412 thousand rubles ($14,800) in April and an average cost of luxury apartments has already run up to 56 million rubles ($2,000,000). In total, there are 2.6 thousand flats offered for sale in the center of Moscow today. Average price per square meter for economy-class apartments is 197 thousand rubles ($7,000) in the center of Moscow, for business-class apartments - 258 thousand rubles ($9,250), and for luxury apartments is 475 thousand rubles ($17,000). The price for studios (with an average area of 34.4 square meters) in city center is 7.7 million rubles ($280.000) and one-bedroom apartments are sold for 13.4 million rubles ($480,000), while an average area of these flats is 54 square meters. Two-bedroom apartments in Moscow cost 18.8 million rubles ($670,000), and an average area of these apartments is 76 square meters. Overview of real estate market in the categories of the cheapest and the most expensive apartments shows that the cheapest apartment is sold for 5.4 million rubles ($193,500), and the most expensive one for 923 million rubles ($33,000,000). Apartments in luxury new developments are offered by 714 thousand rubles ($25,550) per square meter. The most expensive luxury apartment is proposed for 1 million 112 thousand rubles ($39,800) per square meter.