In 2006 UMACO completed the construction of the apartment complex Katerina Alpik. This unique project is created according to international standards and UMACO has carried out the full development phase: concept creation, design, construction and finally operations. In the end of 2006 UMACO sold Katerina-Alpik apartments, partly to private investors, partly to the Swedish Investment Fund 11 Invest - a unique sale-lease-back deal on the Russian hotel market. The hotel remains under UMACO management.