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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)

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