Developers in Russia gradually renewed work on a number of projects, which is a clear sign that the market is moving towards recovery, say consultants. "In the first quarter of 2010 were announced several projects, although they were reduced in scale compared to the period before the crisis," said Elena Prosvetova, an analyst at the Department Consulting GVA Sawyer. In her words, however, is still too early to talk about full recovery in the sector of real estate development. According to the company will market it needed at least another three years to return to 2007 levels, says PropertyEU. Before this year AFI Development announced plans to re-work on an office project with an area of 155 thousand square meters and business park with an area of 90 thousand square meters, in addition to the region "Central Moskovskiy Ìåæäóíàðîäíûé Delovoy" in the western part of Moscow Inteco companies and S & T Equity renewed construction works for the construction of office tower City Palace with an approximate area of 85 thousand square meters also recently become clear that MGG company has reached an agreement with Sberbank to refinance completion of the tower Eurasia. For its part, Mirax Group has announced plans to complete the 97-storey tower Federation. According Prosvetova these entrepreneurs seek to take advantage of shortage of supply of office space, which is expected on the market in 2012 In the first quarter of the year a number of companies have managed to restructure its obligations. Among them are Forum Properties, which received $ 150 million from Alfa-Bank for its business center Ermitazh Plaza. In addition, Don-Stroy transfer ownership of the tower Nordstar in favor of Sberbank in exchange for a debt of 11 billion rubles (282 million) and refinancing of the other 9 billion rubles. "It is still difficult to secure financing, which depends mainly on the type of project and risk assessment, and financial situation of the entrepreneur," says Prosvetova. Lenders Sberbank and VTB as property took billions of rubles in their balance sheets during the crisis and this summer will probably withdraw these assets, says the publication. According to the company Alfa-Bank has already begun to be exempt from such property to the sale of two business centers, which were formerly owned by the Kopernik Group.