Support The Moscow Times!

Residential Deals Boomed in 2012

More housing is being built in the Moscow region than in any other place in Russia, Vedomosti reported.

Metrium Group said that about 80 residential construction projects had been completed in 2012, yielding 7.5 million square meters of space.

The region is the leader in deals concluded, with 533,000 sale contracts registered last year, an increase of 73 percent over 2011.

But the utilities sector is suffering from massive debt. Commercial organizations owe billions of rubles for services.

Moscow region officials are working to increase the information they have about building management companies. They calculate that there are 650 such organizations operating in the region, but they have no details on about 460 of them.

(MT)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.