It is reported that the company purchased the land seven years ago.
"Ingka Senters Rus Property E" is facing a possible loss of over 2 billion rubles due to the refusal to build the shopping center "Mega" near St. Petersburg, the edition "Molls.ru" reports. The Northern Research Institute of Hydraulic Engineering and Land Reclamation (SevNIIGiM), which acted as a co-investor in the project, has filed a lawsuit on the matter, and the first hearing is scheduled for August 17, according to public data from the file cabinet of the Arbitration Court of St. Petersburg and Leningrad Region.
According to the submitted documents, the parties concluded a land plot sale and purchase agreement back on November 3, 2016. The title to this plot was registered to the defendant on November 17, 2016, but in fact for all this time the defendant never made a decision to build the shopping center as it was envisaged.
As a result, SevNIIHIM is seeking through the court to compensate the costs incurred under the preliminary co-investment agreement. The total amount of the claim is over 1.8 billion rubles for the principal debt and another 284 million rubles in the form of interest for the use of borrowed funds.