Ruble Days Down at Mall
Strip malls in Russia?
Forget for a moment the growing poverty in Moscow, widespread inflation, the nation’s $56 billion in foreign debt. Never mind that Boris N. Yeltsin is fighting for his political life with the future of his radical economic reforms hanging in the balance.
Mall developers, among the more visionary of entrepreneurs, are taking to the golf courses in Moscow and talking deals. Kmarts. Neighborhood strip centers. Discount clubs.
Barry M. Klein of Bloomfield Hills, Mich., concedes that malls are a little ahead of the curve.
“We didn’t go there for what is going to be going on for the next 30 to 60 days,” Klein said. “We see possibilities for the next year to two years.”
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