Khaldey sells AFI Development stake

AFI Development’s co-founder and general director Alexander Khaldey has sold his 9.7% stake in the company to the developer’s largest shareholder, Africa Israeli Investments. The deal, which will cost Africa Israeli Investments USD 129m, will give it a 64% stake in the developer.

“This agreement confirms the long term commitment of Africa Israel Investments to AFI Development,” said Izzy Cohen, CEO of Africa Israel Investments. “We continue to see major growth opportunities in the Russian real estate sector and Moscow in particular, which AFI Development is uniquely positioned to realize.”

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