Chairman of the Board of Directors of MosCityGroup
He bought a trough for 200 thousand dollars
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Position: Chairman of the Board of Directors of MosCityGroup
Pavel Fuks was born on 27 October 1971 in Kharkiv, the city of Ukrainian SSR.
In 1994 he graduated from Kharkiv State University with a degree in economics and social planning. In 1997 - 2003 he studied at the distance training department of Plekhanov Academy of Economics and got a degree in world economics.
In 1992-1994 he was an adviser to a director-general of Intrada trade house.
In 1995-1999 he was an adviser to a chairman of the board of directors of Prominvestbank.
In 1999-2000 he was a vice-president of Foreign economic corporation.
In 2002-2004 he was a chairman of the board of directors of Ingeokom-Invest company.
In 2004-2006 he was a director-general of Techinvest company.
Since 2006 he has been a chairman of the board of directors of MosCityGroup
Letter of commendation from president Vladimir Putin for "contribution to the formation of the Russian economy"
Fuks is married and has two children.
In 2005 during a charity auction Pavel Fuks drew attention of mass media for the first time. Ukrainian president Viktor Yushchenko, apart from two barrels of honey, put up for auction a trough, dating back to the XVIII century. The wooden rarity was purchased for 200 thousand dollars by Pavel Fuks, Moscow businessman born in Kharkiv.
Source: Kompaniya, 1 June 2007
By 2007 MCG real estate company, owned by Pavel Fuks, had been a major player on the real estate market of Moscow and the Moscow region. Fuks planned to invest in real estate development about $ 5 billion, which was comparable to a project portfolio of Mirax Group.
Market participants could not say anything about MCG 's money source. They did not rule out that the company had invited one of the major Moscow real estate developers as a partner.
Source: Kommersant, 12 February 2007
Former head of the Kremlin administration and Yeltsin's son-in-law Valentin Yumashev was a developer. Reports say that Yumashev owned a half of Imperia Tower building in Moscow City business centre.
Imperia Tower was a joint project of Yumashev and chairman of the board of MosCityGroup Pavel Fuks.
Source: Business FM, 7 June 2011
In 2011 Sberbank applied to Moscow arbitration. The bank filed a claim for over 5 billion rubles against Pavel Fuks' Techinvest, the company that in 2002 was established on a parity basis by MosCityGroup and Evrazia investment and commercial company. Techinvest was engaged in construction of Eurasia Tower in Moscow City . In 2009 Paul Fuchs' MCG consolidated the project as Fuks bought out the share of former owner of BTA bank of Kazakhstan Mukhtar Ablyazov for $ 50 million.
In July 2008 Sberbank opened $ 500 million credit line for Techinvest, for a period of five years. Τhe amount of the credit would have been sufficient for completion of Eurasia Tower. But in the first half of 2009 Sberbank suspended financing of the project and the construction was discontinued. Fuks referred freeze on the loan to the current financial crisis. The company managed to build five underground floors and forty four overground floors. Negotiations on the debt between Sberbank and Techinvest are being carried on. 100% of Eurasia tower serve as collateral for the loan. However, BTA Bank planned to take over half of the project. The bank applied to the High Court in London and sought to protest a deal made by former president Mukhtar Ablyazov who had sold 50% of Techinvest company to Fuks.
Source: REMC, 15 March 2011
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