MOSCOW, November 26 (RIA Novosti) – Russian billionaire Roman Abramovich will invest up to $1 billion in Skolkovo-Park, an executive from his investment vehicle Millhouse said Tuesday.
Millhouse has already invested $400 million in buildings located in Skolkovo-Park and is planning to spend up to $1 billion in total, the company’s development head Igor Pyatibratov said Tuesday.
Skolkovo-Park is real estate and park development located on the edge of Moscow.
It is expected to be completed by 2018 and includes a makeover of Meshchersky Park, new transport facilities, residential buildings and a large golf course, according to Millhouse.
A previous version of this article incorrectly reported that the investment was in the Skolkovo Innovation Center, not Skolkovo Park. Also, the correct name of Abramovich's investment fund is Millhouse, not Millhouse Capital.