Developer Samolet has completed its first business class project in Moscow and is expanding its presence in this segment. Developer buys 6 hectares of land on Vasilievsky Island in St. Petersburg from Gazprombank-Invest, sources told Kommersant. Price of the plot is estimated by experts at ₽5 billion. On the site it is possible to build 70 thousand square meters of business class housing, investments in such a project will amount to ₽10 billion. However, high competition in this area may negatively affect the rate of apartment sales, experts warn.