Attractiveness of investments into construction in Moscow decreasing – expert opinion
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Red tape and complicated procedures of registering developer projects have substantially reduced investment appeal of construction in Moscow recently, the chairman of the of investment programs commission of the Mayor and Moscow City Government Businessmen Council Alexei Mikheyev announced at a conference called Multipurpose mixed-use complexes: all pros and contras on April 17.
It is our belief that Moscow is not the most profitable region from the point of view of investments. A very high share of the city in implementation of real estate projects, an interdiction on infill, a great number of coordination at construction all this has already brought about a situation when about 15 % developer projects were suspended recently. Now it is much easier to work in the regions, noted he.
According to Mikheyev, for the Moscow authorities, the experience of Dubai could be very instructive, where investors can buy the land under construction only after all communications are built. For this reason the investor does not have troubles with connecting up to water supply, electricity and others problems, he emphasized.
At the same time, at the moment a lot of areas of interest has already generated near Moscow, which are essentially underestimated. Mikheyev explained that he meant districts adjoining to Moscow, but not being its territory yet.