Saturday, December 26, 2009

Court Increases McDonald's Rent 1,000-fold

A court in Moscow upheld the claim of the Moscow government seeking to increase the contractually agreed rent paid by a McDonald's restaurant in central Moscow. In 1992 the Moscow government, striving to attract McDonald's to Moscow, offered a 49-year rental contract at 1 ruble per square meter per year. Now the government apparently thinks this is too low. The court agreed to increase the rent to 1,000 rubles per square meter, which is still the lowest rent in Moscow.
http://kommersant.ru/doc.aspx?DocsID=1300501&NodesID=4

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