Down economy makes Moscow even more attractive for developers
In the midst of current business and financial hard times Moscow is becoming one of the most attractive markets for foreign developers, said Deputy Mayor for urban policy and construction of Marat Khusnullin.
“First and foremost foreigners consider the money issues. They perfectly understand that in terms of currency rate the property in Moscow went down by half. Therefore it is right time to buy and build it,” said Marat Khusnullin to “Rossiyskaya Gazeta”, reports the portal of the Construction Complex.
According to him, a year ago after imposing sanctions against our country, foreign investors significantly reduced interest in Russian projects.
“However the situation has changed today. We visited the largest international real estate exhibition in Cannes and there we realized that the market is on the way to recovery. Representatives of a number of investment funds have declared that they are ready to come to Moscow and to estimate our projects onsite,” said the Deputy Mayor.
Marat Khusnullin stressed that investors are invited to visit the Moscow Urban Forum, which for the first time will take place in summer – from June 30 to July 3, 2016.
“It gives us the opportunity to show them the other city – not the one they are used to visit in December, when there is snow all around and the days are short. In addition to traditional discussion of recent trends in urban development we are planning to increase investment section and present more particular projects,” added the Head of the Moscow Construction Complex.