AFRB.L Share News (AFRB)

LONDON (Alliance News) - AFI Development Tuesday said it has been allocated a 9.79 hectare land plot in Moscow for the potential development of an oncology centre.

The land plot, located in the South Butovo district of Moscow, was previously zoned by the city for a municipal medical facility.

Last year, AFI Development said it was considering potential investment in the development of oncology centres in Moscow. Since then, the company has been undertaking a feasibility study to assess the case for such investment.

As part of this process, AFI Development submitted a query to the land authorities of Moscow regarding suitable land plots that the City would allocate for such development.

"Whilst AFI Development's ability to obtain a suitable land plot with appropriate physical characteristics is an important parameter of the feasibility study, the amount of rent to be charged to the company for use of this land plot has not yet been established," the company said.

As such, AFI Development said it has not yet made a decision to lease this plot.

AFI Development shares were quoted up 2.1% at 0.745 pence Tuesday afternoon.

By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews

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