Capital Group has purchased the former site of the Kalibr Factory in the northeastern part of Moscow, originally intended for residential development by Mikhail Balakin’s infamous SU-155 Group. The latter had sold 167 apartments in the new housing development for a total of nearly 1 billion rubles without obtaining the mandatory permits or securing the land rights. Now Capital Group will have to invest an estimated 13.8 billion rubles to complete the construction project.
