For developers of commercial real estate outside the TTK will provide benefits

12.07.2019

Moscow Mayor Sergei Sobyanin decided to create incentives to build places for the application of labor outside the Third Ring. Developers who will build or reconstruct commercial real estate outside the Third Ring Road (TTK) will be provided with financial incentives.

When erecting or renovating buildings in the capital, investors are required to enter into an additional agreement to the lease agreement, changing the purpose of providing the land plot from “operation” to “construction / reconstruction”. In the first year of the lease of the plot after it is provided for construction / reconstruction, the tenant (investor) is obliged to make an additional increased payment. Its size depends on the building density and ranges from 5% to 80% of the cadastral value of land. A similar payment is made and the owners of land.

A decree of the Moscow government cancels the charging of an additional increased payment in the event of the construction or reconstruction of commercial buildings outside the Third Transport Ring. For example, in reorganized industrial zones or on the territory of New Moscow. This decision does not apply to the construction of apartment buildings and apartments.

“In Moscow, there is a powerful pendulum migration, due to the imbalance of places of employment, the concentration of jobs in the center and the shortage outside the TTC. Millions of Muscovites are forced daily to make long trips on public and private transport, experiencing the associated stress and inconvenience. In order to create incentives to build places of employment outside the Third Ring, they decided to provide financial incentives to potential investors, ”said Sergey Sobyanin.

Moscow is one of the few megacities in the world where commercial real estate is built more than housing. From the beginning of the year, about 5.5 million sq. M. meters of different real estate, including 2.2 million “squares” residential. According to the deputy mayor of Moscow on urban planning policy and the construction of Marat Khusnullin, they want to preserve this ratio of the input of the city for the future.

“The decision on granting privileges will allow forming economically successful areas and will lead to a balanced and even development of the entire territory of Moscow. This will have a positive effect on the city’s economy and will ensure the growth of investment in the construction of commercial real estate, ”the head of the Construction Complex noted.

The head of the Russian division of the international research company The Boston Consulting Group (BCG), Vladislav Butenko, in turn, supported the initiative and noted that the construction of commercial real estate outside the Third Transport Ring would be even more profitable: “It is advantageous compared to commercial real estate inside the Third Transport Ring. which has always been much more profitable to build than other objects. What will the new ruling lead to? There will be more jobs near the house. Pendulum migration is a great scourge. ”+

Source: Moscow Construction Complex

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