Foreign investors were updated on business opportunities in Moscow.

Large urban development projects formed the basis of Moscow’s exposition at MIPIM. This is the world’s leading property market held in Cannes, France. Visitors could see Moscow achievements in developing the city’s transportation infrastructure and plans for rezoning industrial districts, improving Moskva River embankments and developing new parks. Foreign investors were updated on the city’s investment in the construction of transit hubs.

Deputy Mayor for Urban Development and Construction Marat Khusnullin, who headed the Moscow delegation at MIPIM, said at the opening ceremony of the Moscow Government’s stand that the urban construction sector was developing dynamically. “Crises come and go, but real estate stays. Based on our performance in 2016, we can safely say that we are not afraid of any crises because we have  a constant demand and a government programme for Moscow’s development,” Mr Khusnullin said. He also described a residential renovation programme for the next 20 years.

Sergei Cheryomin, head of the Department for Foreign Economic Activity and International Relations, said that annual foreign investment in Moscow amounted to some US$60 billion and that cumulative FDI was approximately US $200 billion. “We need investments in the construction of real estate, transit hubs, social infrastructure, healthcare and education,” Mr Cheryomin said.

Over EUR 315 million has been invested in technology parks. “There were only four technology parks in Moscow five years ago, while this year the figure will grow to 45, which will create new opportunities for industrial development in the city,” Sergei Cheryomin added.

He said that investors are welcome in the city. The authorities have greatly simplified registration procedures for entering the Moscow market. Many services are available online and auctions are held for the most important projects.

Sergei Cheryomin also said that the city is becoming more and more attractive due to the creation of pedestrian zones and the development of the municipal transit system. The hotel stock in Moscow has been upgraded ahead of the 2018 FIFA World Cup. “A record large number of tourists – over 17.5 million – visited Moscow last year,” he said.

By 2020, some 250 large transit hubs will be built in Moscow, and the length of the metro lines will be increased by 130 kilometres. “We are developing as fast as China’s megacities,” Mr Cheryomin said.

The MIPIM real estate exhibition, conference and networking event was  held at Cannes, France on from March 14 to 17. Its business programme included round table discussions. Sergei Cheryomin, head of the Moscow Department for Foreign Economic Activity and International Relations, has held talks with President of the Regional Council of Provence-Alpes-Côte d’Azur Christian Estrosi, Strasbourg Mayor Roland Ries and Dusseldorf Mayor Thomas Geisel.