Russian entrepreneur Andrei Rogachev, founder of the Pyaterochka and Carousel supermarket chains, plans to invest $4 billion in property developments in St. Petersburg and other cities, Kommersant reported last week.
Rogachev plans to invest $1 billion of his own money into a new holding, Terra On, and raise $3 billion from other investors, the newspaper reported, citing an unidentified person familiar with Rogachev’s plans.
