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13 Mar, 2007 23:11

Cannes greets Sochi

Cannes greets Sochi

An international exhibition of real estate investments has opened in the French resort city of Cannes. Russia is represented at the exhibition with the limelight on the country's Olympic candidate city of Sochi.

About 25,000 developers and investors are at the fair, which is one of the leading real estate fairs in the world and is held yearly in Cannes.

This year Russia is widely represented – about 37 different regions took part in the exhibition. The Russian tent constitutes a kind of real estate shopping mall. There are thousands of opportunities for investment in development of projects which have already begun or planned for the future.

Meanwhile, the main focus is on Sochi, with many people comparing the Black Sea Resort to Cannes. As a result an idea appeared to start a film festival in Sochi – it's on the same latitude as Cannes, some call it 'Russian Riviera', and its airport is closer to the city.

German Gref, Russia's Economic Development and Trade Minister, says he is sure Russia has a good chance of winning investors and that will be victory not only for Sochi and the Krasnodar region, but for the whole Russia.