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Central & eastern EuropeDecember 2 2003

Russia’s latest space race

Funds are rushing to get a slice of Russia’s property pie before the limited supply of top quality buildings dries up. Ben Aris reports. The leading Russian Trading System index sailed through its all timehigh of 571 on October 9 to 637.77. With Russia’s blue chips alreadytrading at fair value, investors are looking for news ways to get someexposure to Russia’s ballistic growth. They are turning to realestate’s high returns and low risk and last month saw the first everinstitutional investment into real estate by a dedicated real estatefund.
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