Members of Moscow government participated in international real estate exhibition MIPIM-2019 in Cannes. Delegation of high-ranking officials from Moscow: Vladimir Efimov, Deputy Mayor for Economic Policy and Property Affairs; Anastasia Rakova, Deputy Mayor for Social Development; Marat Khusnullin, Deputy Mayor for Сity-Planning Policy and Construction.
On the exhibition, Moscow exposed its stand for visitors, where everyone could see the main campaigns of Moscow city development, such as: housing renovation, reorganization of industrial zones, construction of railways and expansion of Moscow’s subway.
During his speech, Vladimir Efimov was focusing on the role of metropolis in economic development of the countries and highlighted the successful economic development of Moscow.
He reported, that in long run economic development Moscow is in top-10 biggest urban agglomerations in the world, ahead of such cities as: Seoul, Paris, Chicago and Beijing.
Among the main advantages in long-term economic development of Moscow are the following: high demand on consumer market, developed IT market, and high quality of urban environment. Moreover, Moscow has a lot of advantages for the potential investor, electricity for businesses is twice cheaper than in London, gasoline prices are two and a half times less than in Paris, average rent for rental is half as much as in New York.
Vladimir Efimov summed up investment activities in Russia’s capital in 2018. He reported, that total amount of investments in Moscow was $37,3 billion, which is 15,3% higher than in 2017. Only 26% of the total $37,7 billion were financed from the extra-budgetary funding sources.
Furthermore, event tourism and retail on pedestrian routes had a positive effect on city budget, adding $2,2 billion to it, which is a result of urban improvement and urbanization campaign.