Page 112 - RusRPTAug21

seeking resources from the cost of the capital’s land and the possibility of selling additional residential space.” By the end of 2021, about 1.5mn square meters of housing will be commissioned under the renovation program, and about 30 thousand Muscovites will be relocated to new houses. The housing renovation program in Moscow began in 2017. It is planned to relocate 5,174 thousand houses, in which more than 350 thousand families live, or over 1mn Muscovites.
Investors will construct over 300,000 square meters of commercial real estate outside the capital’s core, where more than 7,600 people will be able to work, under the terms of five agreements on the program to encourage the creation of jobs. According to Deputy Mayor for Economic Policy Vladimir Eftimov, the city offered these investors with incentives totaling 12.5bn rubles for altering the kind of allowed use of plots for house development, RIA reports. Last year, the city started the initiative to encourage enterprises to develop commercial and social facilities outside of the city core. Developers of apartment buildings receive a discount on the first year’s lease payment as well as payment for changing the type of permitted use of a land plot for housing construction if they build places of employment outside the TTK and MKAD at the same time, ranging from offices to educational facilities.
112 RUSSIA Country Report August 2021 www.intellinews.com