McDonald’s scraps Big Macs at Soviet prices due to virus

The coronavirus death toll has risen to 170 as a confirmed case in Tibet means it has reached every region in mainland China. (AFP)
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Updated 31 January 2020
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McDonald’s scraps Big Macs at Soviet prices due to virus

  • Russian fast food celebration hampered as growing coronavirus fears limit mass gatherings

MOSCOW: McDonald’s planned to celebrate the arrival of the Big Mac in Russia 30 years ago by offering one of its most popular items virtually for free.

But on Thursday, the US company said it had canceled a celebration of the milestone in Moscow due to fear of the spread of the coronavirus.

“There’s nothing more important for us than the health of our guests and employees,” Marc Carena, general director of McDonald’s in Russia, said in a statement.

He pointed to measures taken by city officials to avoid mass gatherings that could provide fertile ground for the China virus.

Russia does not have any confirmed cases so far, but the Russian government has set up a task force to try and prevent it from taking hold in the country.

The coronavirus originated in the Chinese city of Wuhan and has killed 170 people in China so far.

On Thursday the Russian government said it was closing its border with China and would stop issuing electronic visas to Chinese nationals.

McDonald’s opened its first restaurant in then-Soviet Russia on Jan. 31, 1990 in a move hailed as symbolic of a thaw between the Soviet Union and the West.

Huge crowds queued for hours outside the restaurant in central Moscow to try their first ever Big Mac.

McDonald’s had wanted to repeat the Soviet-era success by selling the Big Mac at its flagship Moscow restaurant at Soviet prices — 3 rubles ($0.05) a piece — and the campaign had been expected to draw a large number of customers.

The company has repeatedly come under pressure in Russia and had to temporarily close its flagship store over alleged hygiene violations following Western sanctions over the Ukraine crisis.


Global investors commit more than $3bn to King Salman Park as Saudi giga-project secures new deals

Updated 10 March 2026
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Global investors commit more than $3bn to King Salman Park as Saudi giga-project secures new deals

RIYADH: The King Salman Park Foundation has secured more than $3.8 billion in new private-sector commitments at the MIPIM 2026 real estate conference, including a landmark $3 billion fund backed by international investors to develop a major mixed-use district in the heart of Riyadh.

According to a press release, the announcements bring total committed investment in the 17.2 sq. kilometers urban regeneration project to over $5.3 billion across five major packages.

Launched in 2019 under Saudi Vision 2030, the development is designed to be the world’s largest city park and aims to boost green space, improve quality of life, and feature over 1 million trees and extensive leisure facilities.

A $3 billion metro-connected district

The largest of the two packages, designated Package 5, will see a consortium led by Kolaghassi Development Co. deliver a residential-led district with a total built-up area exceeding 1 million sq. meters. 

It will provide approximately 3,700 residential units, a K–12 school, around 300 hospitality keys and more than 100,000 sq m of Grade A office space alongside a wide variety of retail and dining offerings.

The development is supported by a Saudi-domiciled, Capital Market Authority-regulated fund managed by Mulkia Investment Co. that has attracted leading investors from the Kingdom and across the world.

Kolaghassi Development Co. will lead the project alongside Al Othaim Investment, one of the Kingdom’s real estate players, and RXR, a New York-headquartered real estate investor and operator.

“Securing investment of this scale, supported by international capital and expertise, is an important milestone for King Salman Park,” said George Tanasijevich, CEO of King Salman Park Foundation. 

$850 million cultural district package

In a separate announcement, the Foundation confirmed the award of Package 4 to a consortium led by Retal Urban Development Co., with support from a fund managed by SAB Invest.

The project has a total value exceeding $850 million and will host more than 600 residential units, over 140 hotel keys, and almost 50,000 sq m of Grade A office space, alongside curated retail and food and beverage experiences.

“This opportunity reflects the maturity of Saudi Arabia’s real estate investment landscape and our confidence in culture-led, mixed-use urban destinations as a driver of sustainable returns,” said Abdullah Al-Braikan, CEO and founder of Retal Urban Development Co.

Ali Al-Mansour, CEO of SAB Invest, said the fund structure brings together “long-term capital, experienced development partners, and a shared commitment to place-making excellence” while contributing to Riyadh’s cultural vibrancy and the Kingdom’s quality-of-life ambitions under Vision 2030.