Page 101 - RusRPTFeb19

remains in the top slot, but Sheremetyevo was pushed up into the top of the ranking with the fast growth in passenger traffic, up 14.3% y/y according to the airports information, reports Bloomberg to handle a total of 45.9mn people against Heathrow’s 80.1mn. Moscow is likely to fall back this year with out the help of the World Cup, which lured some 5mn visitors to the tournament. Experts will be watching Turkey closely in 2019, which opened a huge new airport in Istanbul, designed to handle 90mn passengers a year by 2020, and will ramp up flights from March and may pose the biggest threat to Heathrow.
9.1.4 Construction & Real estate sector news
State Duma representatives have prepared amendments to Federal Law 214 on residential construction that assume switching to escrow accounts for all residential projects from 1 July 2019. The second reading is scheduled for 18 December 2018. Under the plan which has been adopted, only new projects use the new financing schemes from mid-2019. If a developer already has a construction permit for a land plot and at least one client has registered a contract, the estate can be developed in line with the share participation agreements and previous framework (which allowed companies to collect client funds during the construction period). Thus,
101 RUSSIA Country Report February 2019 www.intellinews.com