Top City Hall official says investors so far not freezing projects in the capital

Author: Inga Friedelhaus Section: Major Events of the Month

Issue: November 2008, Vol.3, No. 10

Tags: Kuzmin

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Soothing markets

Calming the markets in October, Moscow’s chief architect Alexander Kuzmin noted that no investors bankrolling real-estate projects in the capital have folded up their ongoing developments. “The minimum task now is to ensure that these investors complete their ongoing projects. I would not want to see old and abandoned construction projects from the Soviet era lingering further in the city,” he added. Kuzmin also noted that contrary to expectations, more investors, including architects, are now wishing to execute City Hall’s orders, especially in the social sphere.”