Reed Midem, the organiser of the Mipim international property market in Cannes, has confirmed media reports that a number of Russian firms will not be showcasing their projects at this year's fair due to the economic downturn. Russian daily Kommersant reported on Sunday that Inteco, Mirax Group, Don-Stroï, AFI Development, ADG and Penny Lane Realty have called off their trips to Cannes this year, and that Capital Group is still undecided.
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