Russian billionaire, the chairman of Board of Directors of Capital Group, Vladislav Doronin, has built a futuristic mansion for his girlfriend Naomi Campbell in Moscow's suburban area known as Barvikha. The house for the supermodel looks like a spaceship. The unusual house was designed by famous British architect Zaha Hadid. The Russian entrepreneur plans to present the house to the famous British model when they become husband and wife. The house of 8687 square meters is called "Capital Hill Residence". The building consists of two 20-meter-high towers and is designed in Eco-style - a mixture of modern technologies and natural forms. The white mansion stands aloof amidst pine trees. The planning of the house is impressive. The basement will house a Finnish sauna, a hamam (Turkish bath) and a Russian bath. A huge gym is next door. The basement also houses a guest room. On the upper level, there is a reception hall, an indoor swimming pool, a dining room and a kitchen. The house has two children's rooms. The interior of the house is designed in Eco-style. The designer was inspired by the work of legendary Barcelona architect Antonio Gaudi, who did not accept straight lines and liked to use wood and glass in interior decoration. As for real estate, which Vladislav Doronin gives to his girlfriend, Naomi Campbell already has a penthouse in Brazil, not far from Sao Paulo. Doronin bought it for $18.5 million. In 2011, Doronin financed the construction of the Eye of Horus villa in Turkey for Naomi. The building was built in the form of the right eye of the Egyptian deity. The building, designed by young architect from Spain, Luis de Garrido, became a birthday present for Naomi.

The Crocus Group Holding has launched a project to build 14 skyscrapers at the 66-kilometer mark of the Moscow Ring Road, next to the multifunctional Crocus City complex. The new project is to boast a total area of 1 million square meters of realty, RBC daily reported, citing Emin Agalarov, Crocus Group Holding's deputy president. The first phase of the project, which is scheduled to be completed till 2016, is to include three high-rise buildings - a 51-story office skyscraper (137 thousand square meters), a residential complex of 500 apartments 50 thousand square meters) and Europe's largest Holiday Inn Hotel at 1,000 rooms (81 thousand square meters). The property is to also feature a restaurant, fitness center, spa and parking for 900 cars. All three are to be joined by a three-story-high walkway. The concept for the development was created by the holding's own architectural firm together with American architects Kling Stubbins. Investment in the initial phase is to be approximately US$ 3 billion. Crocus Group initially called the project "Crocus City Manhattan" when announcing it three years ago, but the company suspended the project, focusing its resources on the construction of facilities for the recent APEC summit. The project is now simply called the multifunctional complex, but, according to Agalarov, it will also be "reminiscent of New York." Recall that Emin Agalarov is married to Leyla Aliyeva, the elder daughter of Azerbaijani President Ilham Aliyev.

According to real estate market study prepared by Savills, Moscow was in second place among world's 10 largest cities with the house price growth during the first semester of 2012. This year undisputed leader in the growth of house prices is Hong Kong with 7.4 percent growth. Mainstream residential prices are at record levels due to strong local demand. Despite this the easing of mortgage availability also has helped to underpin the market. On the second and third places were Moscow and Sydney with 5.5 and 3.7 percent growth respectively. As analysts stated, this three cities were ahead of a modest average index for all 10 cities, which is only 1.2 percent. The cities that have seen residential markets have been beyond by domestic demand (Hong Kong, Moscow and Sydney) rather than international; buyers and investors. Meanwhile, international capital appears to be retreating to the "core" of established world cities due to their long-term investment credentials - namely London and New York (house price growth was 2.8 and 1.1 percent respectively). Some "new world" cities that had begun to see price falls following specific government intervention, or the impact of a slowing global economy, rebounded in H1 2012 (Hong Kong 7.4 percent). The weight of Chinese money continues to push into this city, but most of this growth can be attributed to a strengthening local market, aided by increased bank lending. At the other end of spectrum, some "old world cities" that had previously appealed, because of their safe haven credentials saw prices falls at the beginning of 2012, notably Paris (-3.4 percent). Here the Eurozone crisis, coupled with president Hollande's proposed taxes on the wealthy, weighed on the upper tiers of the Parisian residential market. In London, some prime market activity and price growth slowed in the wake of uncertainty regarding new stamp duty rules that were announces in the March budget. This year Shanghai saw price falls in the wake of an allowing domestic economy and ongoing cooling measures (-2.6 percent). The first price falls have also been recorded in the previously red-hot Mumbai market (-1.7 percent).

As reported Russian media, Moscow Mayor Sergei Sobyanin officially appointed Ruben Mulkijanyan to the position of capital's Chief architect. Since 1996, the Moscow Committee of architecture was headed by Alexander Kuzmin, but on July 12 he resigned. After an unexpected announcement of Moscow's Chief architect's resignation, his deputy Oleg Rybin also wrote his resignation. After this the Moscow Mayor has officially appointed to this position an Armenian architect Ruben Mulkijanyan. Mulkijanyan began his career not in architecture, but in automobile industry. At first he worked in "ZIL", then in a motor-car factory. After studying at the Institute of Land Engineers he began to work at the Moscow Architecture and Urban Planning Committee's department of planning and development. Since then over 40 years he has been in various positions, and the last 5 years he was Moscow Architecture and Urban Planning Committee's chairman deputy. He participated in reconstruction projects such as "Olympic", "Dynamo", "Locomotive" stadiums, the building of Academic science and even the Great Theater. The experts' opinions, whether a temporary position to become permanent for the Armenian architect, are different. The group of architects believe that he can do the job well, as he had a great experience, another group-no. However Alexander Kuzmin is on vacation until August 14 and hence the election of a new chief architect in the offing.

The construction of Armenian cathedral in Moscow is planned to be completed by the end of 2012. As reported Mother See of Holy Etchmiadzin press center, the Catholicos of All Armenians His Holiness Garekin II and the head of Russian Diocese Artur Chilingarov during their meeting announced, that the great opening ceremony of Armenian Cathedral will take place late in 2012. The temple construction site was allotted by the Moscow authorities in 1996. The construction is planned to be completed in 2001, but project was delayed till 2006. The architect of the religious complex is Artak Gulian, construction is funded by Armenian and Russian patrons. The whole Cathedral site is about 13.2 thousand square meters; the height of Cathedral is about 50 meters and the dome diameter - 21 meters. The main cross height is 7 meters, and the remaining 5 crosses rise by 4 meters each. The complex includes the Cathedral, the small church of "Holy Cross", educational, cultural, administrative and reception facilities and a museum.