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MIL OSI Translation. Region: Russian Federation –

Source: Moscow Government – Moscow Government

About 870 thousand square meters of real estate were purchased from the city by individuals and business representatives from 2014 to 2023. This was reported by the Deputy Mayor of Moscow for Economic Policy and Property and Land Relations Vladimir Efimov.

“Involvement of city real estate in the economic turnover solves several tasks at once. Entrepreneurs use the purchased premises to open or expand their businesses, thanks to which the capital’s infrastructure develops and jobs appear. Since 2014, the city has sold more than 9.2 thousand objects with a total area of almost 870 thousand square meters”, – said Vladimir Efimov.

Earlier Sergey Sobyanin reportedthat sales of city real estate have increased 13 times since 2014. If 10 years ago 217 non-residential objects were privatized, in 2023 – about three thousand. This was facilitated by the automation of bidding, the emergence of new opportunities: electronic signing of contracts, secondary methods of sale and the conclusion of contracts with the only and second participant in the auction.

“The most popular at the auction are small premises with an area of up to 300 square meters, as well as lots sold by secondary means. They account for almost two thirds of the total sales volume,” said the Minister of the Moscow City Government, Head of the Moscow City Property Department

Maxim Gaman.

Commercial real estate is in consistently high demand. According to the head of the city Department for Competition Policy Kirill PurtovIn 2023, the average number of bidders at the auction for the sale of non-residential buildings and premises was seven per lot. In total, about 1.7 thousand such objects were sold during the year. 12 thousand investors took part in the auction.

On Moscow investment portal you can find complete information about all real estate objects put up for auction. For 10 years this service has become one of the most popular specialized resources. The portal provides comprehensive information on support measures, including for industrial enterprises, tax regimes and benefits. Investors can directly contact the Moscow City Government, find a suitable type of assistance, apply for statuses entitling them to benefits, inspect real estate put up for auction, and learn much more.

Development of electronic services for business is in line with the objectives of the National Project “Digital Economy.”. More information about this and other national projects being implemented in Moscow can be found in the following pages here.

More information about Moscow’s economic policy and property and land relations – on the website economy.mos.ru.

Please note; This information is raw content directly from the source of the information. It is accurate to what the source states and does not reflect the position of MIL-OSI or its customers.

Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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