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Sergei Polonsky spends own funds to build Mirax Group projects    13.01.2009
Credit Crunch
The co-owner of Mirax Group, Sergei Polonsky, is going to spend the money gained from selling his yachts and houses to build the Group’s objects.
“Having realized how important it is for business to be responsible and understanding that it is necessary to transfer foreign funds to Russia, I decided to sell the Sungate Port Royal hotel, my yacht and a mansion along Cot d’Azur and invest the funds to the construction of the Group’s objects” he writes in his own blog. Mirax investment portfolio consists of over 12 million sq. m. with 10 million sq. m being paper projects that are frozen because of the global financial crisis.
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