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Real Estate

Vladimir Kozlov

More hotels and residential buildings in Moscow’s center

Moscow authorities want to see more hotels and residential buildings to be built in the center of the city as opposed to office centers and shopping malls. “Instead of shopping centers and offices, primarily hotel capacities and residential property will be built in the center of the city,” Mayor Sergei Sobyanin told a meeting of the city government’s urban development policy and construction department last month, RIA Novosti reported. “Basically, we need to formulate and begin to implement a new city development policy that would be based on dayto- day needs of the city’s residents and ensure comfortable conditions for work and living here,” he went on to say. “The volumes of construction won’t be decreasing, on the contrary, but we need to reconsider our priorities.”

Floods and burglary said to be the main threats

Floods and burglary are the main threats for owners of out-of-town property in Moscow Oblast, says a report prepared by the home and vehicle security company Tsezar Satellit. According to the report, floods account for 38 per cent of all troubles for owners of out-of-town houses, burglaries for 33 per cent, followed by fires (25 per cent). Meanwhile, Tsezar Satellit added that fires are unmatched in terms of the severity of damage they cause. The report also points out the fact that summer cottages in which owners spend only a few months a year or less are more vulnerable to various kinds of threats than countryside houses in which people reside on a regular basis. According to the authors of the report, the incidence of burglary is higher for cottage compounds located next to towns and villages.

30% of Moscow’s budget to be spent on development

More than 30 per cent of Moscow’s budget will be spent on the development of the city in 2011, Vladimir Resin, the first deputy mayor, told reporters at the commercial property exhibition MIPIM-2011 in Cannes last month, RIA Novosti reported. He added that about 360 billion roubles ($12.8 billion) is to be spent on development, with transport infrastructure and road construction being priority areas. “The city plans to complete 46 transportation projects, including road junctions,” Resin said. “In addition, within the next five years, we plan to build 75 kilometres of metro lines.” Meanwhile, there have been reports that funds allocated for the repair of residential buildings and the program of demolishing poor-quality Khrushchevka buildings have been cut, which the mayor’s office would not confirm.

Most shopping centres face parking problems

According to a study recently conducted by Penny Lane Realty, the vast majority of shopping centres located within city limits don’t have sufficient parking spaces for their customers. Based on the shopping centres’ total area and the number of parking slots they have, the authors of the study compiled a rating of Moscow’s largest shopping malls, based on their parking situation. The only shopping centre that can provide parking spaces for 100 per cent of its customers turns out to be Gorod, located on Ryazansky Prospekt. Meanwhile, such popular shopping centres in the city’s central section as Atrium near Kurskaya metro station and Yevropeysky, located next to Kiyevsky train station, have a parking provision rate of only 15 per cent.

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