The total volume of real-estate properties under construction in Moscow at the end of 2011 amounted to 1.13trln rubles, and the main task facing the city’s construction and development department is to reduce this volume several times in the coming years, Marat Khusnullin, the deputy city mayor overseeing urban development policies, said at a February meeting of the city cabinet.
The bureaucrat also put the total value of completed construction in 2011 at 365bln rubles and the gross of delivered real-estate facilities at 655bln rubles. “The goal this year is develop objects estimated at 108bln rubles. Most importantly, new urban facilities will be built in Moscow only in places, where they will not pose hindrance to the free flow of traffic.”
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