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Alexander Romanenko

the man
of the
world

His patriotism is just like him: reserved and


open (yes, it does happen). His charisma is
not the last of his business features (There
is something about him that reminds JFK,
Americans say).
He was the first of all Russians to be elected
President of FIABCI, the worlds largest real
estate federation.
We met each other almost during the first year of our magazine (all but
10 years ago). There was hardly a topic we did not discuss: track and field
athletics, rally bikes, Russia, the U.S.A. (he is interested in all of the above
subjects). And certainly, about real estate (it would have been strange not
to talk about realty with Advecs president).
It was as early as then that an uncommon feature of our interlocutor won
(and struck) us: he looked at his business real estate only in the global
context. Moreover, Russia (a very big property!) itself, was an equitable part
of the huge world to him, fully open and perceptible. And he himself was a
man of the world, one among equals.
Yet, despite all that, he was not in a hurry to leave this country on the
heels of the others neither then, nor now.
That was strange and unusual.
We might say that the protagonist of our story has outstripped his time
but that would not be quite right. He has found himself exactly in the right
place and in the right time it was not for nothing that he did long-distance
running at a very young age!
In my new position I can see three key tasks for myself, says Alexander
Romanenko. One of them is travelling around the world and helping
property market participants to organize their domestic and international
business, promote a higher quality and competitiveness of the services
they offer, assist in the shaping of normal relations between the FIABCI
members. On the other part, FII is the only of such organizations that
enjoys consultancy status with the UN. We are in a position to influence
the adoption of certain documents at the international level. We can draw
attention to the problems faced by different countries.
The second task is that of addressing problems in my own country.
It goes without saying that property issues are important for everybody in
Russia: even though the right to housing is guaranteed by the Constitution,
each citizen has to tackle his or her housing problem virtually by him/herself.
I believe it is my duty to promote a new law on realtor activities. This law is
very badly needed. Above all, it is needed to protect our citizens that consume
13

14

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realtors services. Secondly, it could help to give a formal status to the very
notion of realtor community. While we dont have a professional access
threshold, while we dont have a mandatory system for agent attestation
and company certification, the image of our profession will be damaged by
unskilled and ill-educated people offering brokerage services and calling
themselves realtors in their ads.
Incidentally, quite a lot has already been done towards this goal. Under the
law on Self-Regulatory Organization, the Russian Realtors Guild has prepared
a draft Law on Realtor Activities. I hope that it will be finalized in 2012 and
presented to the State Duma for consideration.
And the third challenging task is preparing and holding the International
Real Estate Congress in St. Petersburg in May 2012. We won the right to
host the 2012 international congress in the try-out held at the FIABCIs
General Assembly in Brussels in 2010. I can say we snatched the victory
from Vancouver and Cape Town. First, I was simply happy and proud. But
the euphoria was soon gone while the understanding remained what a largescale and significant event we were to prepare!
Im very glad that our city administration has supported our endeavours.
The congress general partner has already been assigned it is Intarsia
Group of Companies.
Quite often I hear from my foreign colleagues about gaps in the Russian
legal framework. d like to be able to tell the International Real Estate
Congress are going to host in St. Petersburg in one years time about positive
changes, and not only in the field of heritage conservation.
Four global committees are to meet during the congress: on real estate
development, brokerage, experts, and property management. They will
attract the elite of the real estate market from all over the world. It is easy
to understand how important an event of such magnitude is for our beloved
city as well as for the whole of this country. The prestige and business
reputation of the entire Russian business depend on how well well organize
it. Consequently, for me as President of FII, it is a matter of honour.
15

ASTERA BNP Paribas Real Estate

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25

Savings
countries

Russian citizens showed their interest


for foreign estate property long ago.
Just before crisis our compatriots tried
to reconcile contraries
business and pleasure when buying
property for recreation they had
intention to earn from it.
Nowadays the significant number
of purchases is made to save earnings.
According to experts, all deals having investment as a main
aim, allow at least to preserve savings. The time of investment has
gone, supposes Valentina Nagieva, General Director of Greenfield
Property International. What we are really having at the moment
is called savings diversification. Each country has a number of good
projects which make it possible to earn from 7-8% to 10% interest per
annum. But these projects are unique. In Russia profitability is higher.
In addition, market realities have broken the myth about getting high
profits from foreign property lease. Those who were not greedy and
handed over their objects to a professional administration company,
now have stable profits, though not very high. The others who tried
to lease on their own, burned their fingers.
However, according to realtors, Russian investors show the biggest
interest for leasing. As it is estimated by Kirill Dolginskiy, the CEO of
Lowell Finance, up to 25% of deals are made to let the object out on
lease. Moreover, according to Tatiana Rodionova, the President of
FIABSI Russia, Russian trustful investors often forget that 8-10% of
annual interest turn to 5-6% after a tax-pay. And there is one more
important point to be made. There is a market for leasing only where
the labour market exist, highlights Rodionova. Lets take the
Czech Republic for instance. In the North houses are cheap, there you
can buy a flat for 5 thousand euro. But it is almost impossible to fight
this money back. The flat in Prague is 150 thousand euro, but you
can easily rent it out under good pay conditions. The cost of flat in
the surroundings of Prague is 70 thousand euro minimum. The rent
rate in the suburbs is lower than in the capital, but the profitability
from leasing is higher. Resort property estate is more difficult to be
leased, while renting houses in industrial areas is doing really well.
There are few countries where interest for primary market is actual,
nowadays it is not possible to earn from the re-sale when being under
26

By the end of 2010 Russia took the forth position in the world by
number of property objects, bought in Spain Russian citizens
account for 7 % of houses and flats, purchased by foreigners. According
to Valentina Nagieva, there has been an aroused interest for Cyprus
recently, but lower price segment, where cheap offers (from 100
thousand euro) have appeared. The Cypriots say there are few buyers
from other countries. The number of Russians coming to dwell on
Cyprus is increasing. The official data of Cyprus Land Department shows
43% increase in flats and houses sales, made to foreigners in the first
quarter of 2010 in Larnac, 21% increase in Nicosia, Pathos 12%,
Famagus 10%, Limassole 4%. According to realtors, three years
ago less than 10% of deals were made with participation of Russians,
now their market share has amounted to 60 %.
The customers are also interested in estate property in Greece for
the same reason decrease in prices. Moreover, Russian people prefer
Montenegro, Croatia, Bulgaria and Italy. In some of these countries
Russian customers appear as vendors: they market projects they
have owned for several years and buy the new ones of better quality.
According to Kirill Dolginskiy, professional private investors are mainly
attracted by Great Britain, France, Spain. For instance, the demand
for French real estate has risen by 5-6 % in six months time, and 1-2%
for the British one.
Turkey is at a great attention this season. It might be caused
by tourists activity together with appearance of hot spots in
traditional resorts in Africa. At the same time the interest for Egypt
has not quietened. Valentina Nagieva admits that single and double
apartments are of highest priority, town houses are bought less
frequently, whereas villa purchases are quite rare. The share of
investment deals at real estate markets in countries popular with
Russians fluctuates from 20 to 50%, depending on the country. The
amounts of deals vary from a few ten thousands to a few millions
euro. The average cost of demand is 150-200 thousand euro. The
number of such proposals is big enough at the moment. Earlier
foreign partners did not want to make deals within this price range
they preferred to sell more expensive objects. Now they willingly do
it, comments Valentina Nagieva.

Tools
One way to buy real estate abroad is to get a mortgage credit
from the bank. However, customers do not often address to
Russian banks. Nevertheless, there is a working model where
you can bond real estate in Russia and purchase an object abroad
with the credit obtained from the Russian bank. This object can
be mortgaged in a local bank with a lower interest. Having your
credit refinanced, you can sink your Russian debt and pay off the
mortgage quietly abroad.
According to Kirill Dolgonskiy, the percentage of Russian people
using mortgage credits varies, depending on the mortgage credit
terms offered by banks in each country. It makes 30-40 % for
purchasing real estate in Great Britain, 20-25% in Greece, more than
65% in Spain, for France this number amounts to 50%, Cyprus
more than 70%, Italy over 30%. Natalia Alekseeva affirms that nearly
half of customers for real estate in Finland use mortgage credits.
The good point is that local bank terms make it possible. Today the
interest rate in Finland is 4% 6% per annum. It is still possible to
make a loan for 15-20 years time.
In some countries, customers are offered new ways of
investments buyback and leaseback. According to data
collected by international real estate agency Gordon Rock,
our compatriots tend to invest in projects with guaranteed
profitability when the builder (or management company) takes
over the management of the purchased object and guarantees
a kind of stable revenue to the owner (lease back model), or
when the builder undertakes an obligation to pay off the object
in some years (buy back model). Lease back scheme has 5-10
years term of validity. Thus, it is not important for the owner
whether the management company is able to lease its estate out
or not and what the exact terms are. The management company
undertakes all risks related to the lease, including potential
damage. Leaseback is particularly popular in France, sometimes
this is the case in Italy, Great Britain, Turkey, Israel, Germany and
Switzerland. The classical scheme means that the owners can

construction, as it was easily done when towers in Dubai and Miami


were being built. According to Natalia Alekseeva, Chief of Northern
Europe Countries Department in Strana Plus consulting company,
Finland offers an opportunity to have a go at development: buy a
site, build there a house and earn from selling a ready-made unit.

Having whole world in your pocket


As it was estimated by Lowell Finance, the first six months of 2011
turned out to be very active: the demand has risen 30 % at least in
comparison with 2010. Regarding estate property location, Russian
people are interested in all countries of the world. According to
data given by Strana Plus, since the beginning of the year in SaintPetersburg there has been a boom for estate property in Suomi.
This concerns not only residential and commercial real estate, but
ready business (hotels, malls, cafes and restaurants) as well. Russians
buy mainly from secondary market in France, whereas in Italy they
purchase all kinds of property. In Portugal the buyers are chiefly
attracted by studios and small flats in capital cities, which cost 80120 thousand euro for further rent. In Spain, where the market has
suffered a lot during the economic crisis, collateral loans offered
with great discounts (up to 60 % from initial cost) sometimes even
without initial installment, are very popular among Russian buyers.
The Chie f 78 ( 100) 201 1

T h e Ch ief 7 8 ( 1 0 0 ) 2 0 1 1

27

going to face two or three years of stagnation. The GDP growth


rates are not very high. There is a weak demand in the real estate
market. There is also an excess in supply, including large number
of default objects.

ard-reading

occupy their object for seven days during high season and for
three more weeks at any other time.
Buyback scheme works only for complexes being under
construction. At the construction stage the builder and the customer
make contract, when the builder guarantees profitability from renting
the object out for the period of 5 years (this term can be prolonged),
and then he is obliged to buy back the object for 150% of initial cost.
The risk of such scheme is in the unpredictability of the market. If
the growth is wrongly estimated by the builder, it leads to a business
failure, and clients will have to look for customers on their own. We
can not advise leaseback to everyone, says Kirill Dolginskiy. It
is a high risk. Sometimes, for instance, the management company
breaks the contract unilaterally. Foreign banks warn constantly: you
should carefully choose the object. Those objects, which are offered
at leaseback scheme, are usually low liquid.

Price abatement
Property Guide multinational defines world price situation in the
first quarter of 2011 as a period of relative silence. Everything that
could become cheaper has already fallen in price the correction
took three years. Nevertheless 12 countries (out of 39 under
consideration) have seen a price increase in high quality residential
real estate (adjusted for inflation), while the others 27 have indicated
a landslide of prices. As the World economy is being followed by
inflation and interest rate growths, the situation is considered to
be alarming and experts do not see any signs of amelioration. The

28

correction is going on, as far as many objects were overestimated in


majority of the countries.
Prices for real estate in Germany are now 17 % lower than they
were in 1970. According to experts, 55% of residential real estate is
rented out to foreigners. It is difficult to buy real estate with mortgage
credit banks do not willingly provide loans to non-residents. But
Germany remains one of the most reliable economics in the world.
The GDP growth rate for 2011 is forecast at the level of 2.1%. Real
estate growth rate will make 3-6% as predicted.
The major National bank of Spain forecasts further landslide of
prices in the country. Moreover, this will continue at least until the end
of 2012. The estimated decrease is 10 %. According to Lower Finance
the demand in Spain has sunk, the number of deals has reduced
by 30 % compared with the last year. As Kirill Dolginskiy says, the
market is constantly falling, but the decline rate has slowed down.
They are expecting 3.5 % GDP growth rate in Poland. This country is
picking up in foreign investors eyes as economically and politically
stable power. The industrial areas are of particular interest. In 2010
there has been an increase in prices for real estate in Poland by 8%.
In the USA the situation has taken an interesting turn real
estate market behaves differently in different states. In California,
Florida, Oregon and Colorado there has been an 5.6 % growth in
deals. The increase in new objects in the market made 7.5%. The
average cost went down 8.2 %. The average purchasing budget
is $170,000. The prices are falling down in more than half of the
states. The others show better dynamics. New-York, for instance, has
growth of 1-2%. The average purchasing budget there makes from
500 thousand to 2.5 million dollars. The prospects for American
market are not very pleasant,-admits Kirill Dolginskiy. The USA are
The Chie f 78 ( 100) 201 1

On the one hand, Russian people, willing to invest into foreign real
estate, have some choice. On the other hand, it is difficult to catch the
right time for investment market forecasts are not very reliable.
In Natalia Alekseevas opinion, it is worth investing in estate
property of Finland. The economy of the country is stable and it
didnt let down the real estate holders, even at difficult times of crisis.
Although extra-profits are not possible, you can always get 10-15%
interest per annum (depending on the class of the object and its
destination.
If you are willing to invest in resort estate property, Tatiana
Rodionova suggests targeting the countries with ever-lasting
summer. In the first place they are Dominican Republic, Bali and some
other exotic countries. If we are considering large amounts, it is better
to focus on the commercial real estate of the US, France, Germany,
China, advises Yana Dobrovolskaya, the Chief of Western Europe
Countries Department in Strana Plus consulting company. If we
are talking about residential real estate investments, in my opinion,
the most reasonable thing is to invest in popular resorts in countries
with stable markets, which, in particular, most our offers concern,
says the expert.
There are projects in Portugal, narrates Elena Krilova, Chief
of Southern Europe Countries Department in Strana Plus
consulting, which have 10% profitability, for example eco-real
estate in the North of the country, not far from the Spanish frontier.
Foreigners are willingly investing in Portuguese real estate with the
view of renting.
There are investment lacunes. Take mansards in the centre of
Paris, for instance. They can always be easily rented out, either to

T h e Ch ief 7 8 ( 1 0 0 ) 2 0 1 1

tourists or to students. Such objects have high cost, but investments


work, says Tatiana Rodionova. Switzerland, Austria are good for
saving assets, supposes Kirill Dolgonskiy.
All experts advise unanimously buying real estate in Germany.
The USA are also in the list of the right countries for investments but
the pay-back period is quite long. Now it is the right moment for
purchasing real estate for recreation, says Kirill Dolginskiy. When
you have 150 thousand purchasing budget, you can get apartments
in Florida. Good customer is a customer having cash. The USA are
suitable for long-term investment, though there will be no visa
facilitations for estate holders, and they will have to wait for market
growth for years,-adds Tatiana Rodionova.
Regarding purchasing in Spain and Greece there is no common
opinion among experts. As further market breakdowns in these
countries are being forecast, it is reasonable to bide ones time for
lower prices, say some of them. The others insist on avoiding waiting
for long as all cream will be taken off the milk.
Nowadays it makes sense investing in real estate market in Spain
for the purpose of further lease, as there is a shortage in supply for
renting houses on Costa Brava and other sea shores in summer. Threebedroom town-houses and large 4-5 bedroom houses in the firstsecond shoreline are of high priority. In this case it mainly concerns
one to three months rent term. The demand for short term rent (up
to two weeks) is focused on single or double apartments within
a radius of 1 km from the beach, says Elena Krilova.
According to Tatiana Rodionova, it is high time to buy Spanish and
Greek real estate. But you shouldnt buy the cheapest, warns Ms
Podionova, it is better to get the price and quality well balanced.
The more difficult life conditions in a country are, the cheaper real
estate and habitation appear. Tatiana Rodionova claims there are
49 border zones in Greece, where it was banned to buy estate
property, now only 8 of them are going to be left. And this could
be interesting. Having purchased real estate in Greece, you can only
count on renting it out, assures Kirill Dolginskiy. Russian customers
are not frightened by lack of stability. They are mainly attracted by
low price, resumes Valentina Nagieva.

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Plant into full operation by the first quarter of 2012 says Alexander
Fedorusenko. We dared to ask if theres enough time his reply came
pat, as in the army yes, sir!

Closed during repairs

Olympic Sochi:
Text: Maria Voskova

expecting the snows of yester-year


The Olympic construction has scared tourists away from Sochi for a long time.
These who used to love the oldest Russian resort, now cautiously read the news about
increasing building activity on the coast of the Black Sea. On the other hand,
Sochi is a paradise for investors though we didnt manage to prove this fact.
The colors of Olympic construction in Sochi are blue and
white. The sea and the sky are blue. The sun and the ground
are white, or rather off-white with a thin coat of building dust
on them. There are interminable fences and roadway gates all
way long from the airport, with metal cores glittering behind
them, dumpers roaring and people shuttlecocking. This picture
is melting in the sun and sinking in the dust. The countdown
of less than 1000 days to go to the Olympiad 2014 has started.

Lithic age to be called off


We are being transported to Adler Thermal Power Plant.
Its one of the first key power objects of the Olympiad. As it
has turned out, Sochi region is considered to remain energy
deficient. There are four old power plants in operation, but they
meet only 25 % of heat and electricity need of the city and its
surroundings.
We have power outages quite often. Everything is plunged in
sudden darkness, as in prehistoric times. We have to turn to our
donors regions from neighborhood says Dmitry Ptakh, branch
director of OGK-2 public corporation.
The situation will be improved due to Adler Thermal Power Plant
launch. It has been under construction by Gazprom structures since
48

2009, and they have already significantly advanced: civil and erection
works are 70 % completed.
There are 10 floors in the building. We are going up on the fifth.
There is a spacious machinery room: huge yellow cranes are still asleep,
the sound of working hammer, the smell of welding.
Combined-cycle power plant, which consists of two powergenerating units, will be so heavy that it would cover not only the
power consumption need of the city but also one third of whole power
load of the Olympiad. It will be able to generate 360 MW of power and
200 giga calories of heat, says Dmitry Ptakh. Moreover the modern
technology will provide high efficiency (52%), low fuel consumption
and it will also reduce the rate of atmospheric emission at least by 30 %.
The construction of Adler Thermal Power Plant needs twenty-two
billion rubles of investment. Gazprom has allocated 12 billion rubles so
far (75% have already been drawn). Eight more billions will have been
transferred by the end of the year reports Alexander Fedorusenko,
Deputy General Director of Gazprom investproject Co Ltd. The Plant
is going to pay off its debts from its own revenues.
More than 1000 people are working on the site at the same time.
Among them there are people from Saint-Petersburg: they are
responsible for triggering and adjustment.
We have to get the equipment connected to the voltage in the
middle of July. We are planning the launch of gas feed to the plant
at the end of September. And we need to bring the Thermal Power
The Chie f 78 ( 100) 201 1

We are climbing up onto the roof of the Thermal Power Plant.


Its windy. But the roof is warm. Far away the attractively cool
sea is glittering in the sunlight. It seems to be near at hand,
but in fact it is at about 5 km distance. The explanation is that
the Adler Thermal Plant is the highest point in Imeretinskaya
Lowland. From here the Olympic Valley (local people call it
Olympic Park) is in the full view. We can see the big Central
Stadium for 40 thousand spectators, where Opening and Closing
Ceremonies of the Olympic Games are going to be held. There
are also three more stadiums of a smaller size and a huge mediacentre just to the right. And over there, where the dome is being
installed thats the main Ice Arena, where all hockey matches
are going to be held we are guided by Matvey Geller, Chief
of Special Projects and Research Department in Gazprom public
corporation. He has noticed so far that the roof of the Plant is
ideally observed from the board of the plane when descending
to Sochi airport. I think we should install our Gazprom logo right
here. This could be great Olympic PR our guide is sharing
his plans for the future.
By the way the Olympic PR in Sochi region is doing really well
you can easily find billboards with Olympic Sochi.ru 2014. Lets
go!!! But amazing fact is that you are not always capable to
move. There are countless numbers of roads and interchanges
being under construction. The city seems to be stuck in traffic
jams. The traffic is fairly heavy.
In fact it is not traffic congestion, the local people dont
give way to despair this is what we call Olympic motion.
The rest at Sochi resort has not changed a lot. The typical
south blend of fragrances: some flowers, some sea and some
chicken-grill. There is a kind of animation on the quay with
relaxed holidaymakers flip-flopping around and an abounding
street-market. Old private guest-houses have been replaced
by comfortable hotels. The closer you get to the sea, the more
frequently the new-buildings appear. The city is immersed into
construction rumble from the early morning, they are poling
round the corner, they are unloading asphalt from the dumpers
at the crossroads. There is even a tiny eating-house fenced with
a sign on it: Closed under Olympic Repairs. Apologies.
Everybody is getting ready for the event. Everyone in their
own way.

shares and left Russia. But his name was kept. The construction
of the gas distribution station will have been completed by
August 2011. The gas will proceed through a new pipe duct
Dzhubga-Lasarevskoye-Sochi, worth a total of 25 billion rubles.
This pipe duct has unique features. His total length is 177 km,
but 90% of its pipes are laid through the bottom of the Black
Sea, at 4.5 km distance from the coast and at the depth up to
80 meters. Every year the duct will let 3.8 billion cubic meters
of gas to be pumped through. The estimated operation life of
the duct is 50 years. When laying the gas pipeline, a method
of directional drilling was applied to minimize environmental
risks,-explains Oleg Sergeev, General Director of Piter Gaz.
He is wearing a suit and a tie, and the Chiefs shoes are shining

The tea past of the pipes


After a visit to Adler Thermal Power Plant we are riding off the
road towards the mountains. There, a gas distribution station is
being under construction in the place of an old tea plantation.
Gas will proceed to Adler Thermal Power Plant in the valley and
further to the consumers. The owner of the construction is Peter
Gaz company, which is granddaughter of Gazprom. Despite its
name it has nothing in common with Saint-Petersburg. At the
time of establishment of the company one of the co-founders
was a Scandinavian businessman called Peter. He later sold his
T h e Ch ief 7 8 ( 1 0 0 ) 2 0 1 1

49

despite the impassable mud all around. The higher position


you have in Gazprom, the cleaner your shoes are. they do not
step onto the ground, explains a colleague looking sideways
at our muddy rubber boots.

It rains like in St.-Pete


After construction sites in Sochi, Krasnaya Polyana deafens by
its silence. You can hear birds twittering. It is quite a small and
ordinary village. But in fact, it is a super class resort. Here you
can find everything, even a tomograph. But we are not going to
stay here too long. We need to reach the peak Psyhako, says
Olesya, PR Manager, pointing to a mountain with a grey cloud on
the top. The cubicle seats 6 people, dark glasses do not let the
UV in, you feel your ears stuffed up. It takes 20 minutes to get
to the mountain. There is only one cable road in function up to
the moment, but it is planned to launch twelve more with total
length of 18 km and its traffic capacity of 24 thousand people
per hour. These cable roads are designed to get to skiing tracks
which are 29 km long, and to the Biathlon and Ski Complex
which seats 9.5 thousand people. This complex designed by
Rosengineering, St.-Petersburg engineering bureau, is also
being built by Gazprom subsidiary Gazprom Sozinvest. The
workers are not very verbose. Its an ordinary construction site.
It rains quite frequently here like in St.-Pete, says one of them.
The Complex is going to appear 1500 m above sea-level. The
Ski Stadium is planned to be a temporary construction (it will be
dismantled and transported to another place when Olympiad is
over), whether the Biathlon Stadium will be capital. Weve got
here higher seismic activity, but the Complex will resist to one
jolt up to 9 point, says Vladimir Makarenko, General Director
of Olympic Objects in Gazprom Sozinvest.

The Biathlon and Ski Complex will be let in October. The


new skiing track is going be tested the following winter during
Biathlon World Cup which will be held here at the beginning
of the year. Sportsmen will be accommodated in the Olympic
village at the same altitude where the skiing track is (that is
requirement of Olympic Committee). The village is ready to
welcome its guests: there are ten two-storied cottages on the
coast of artificial lake. It smells wood inside, it is tidy and quite
modest. It is a perfect place for meditation: I came, I got myself
ready, I conquered. You feel like this. Though, it can be just the
result of fresh mountain air.

Defending population
All Olympic construction sites pay great attention to the
environment. The biathlon track, for instance, is being built in
the national park. There is the biggest brown bears migration
point near here The Bears Gate. When the high season
starts, we stop all works to avoid scaring the animals away. We
also laid out some food along the beast paths in order to lead
the bears away, says Vladimir Makarenko. This spring we
bred tadpoles and let them out to keep up the frog population.
We also once changed the route of the track to avoid cutting an
age-old tree, ensures us Olesya, PR manager.

Winter under sawdust


Frogs are frogs, but there is one more real threat to the winter
Olympiad (except for existing one we all know). It is subtropical
climate. Snow-generating machines hang about like lamp posts
everywhere along each track. If the winter is frosty but lacking
snow, we will have to generate snow by ourselves. The water will
be taken from artificial lake with the volume of 120 thousand
m3, which you could see near biathlon village, says Vladimir
Makarenko.
What is more to say, Gazprom has launched the unique
experiment on reserving of the last-year snow. They have copied
Finnish technology the snow from the slopes its about
7 thousand m3 was taken to the bottomland and covered
by coat from conifer sawdust 40 cm thick. The snow doesnt
melt in such condition,-says Makarenko. But he didnt allow us
to get closer to the pile nor to dig it out. There is snow, I tell
you. But you should not touch it. You might spoil the experiment
by your curiosity.
They are going to keep snow under conservation until the
Olympiad. They are also going to support the image of the future
mega resort as well as to explain where Olympic billions flow
(and you must admit that is not an easy task).
The Chie f 78 ( 100) 201 1


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