The city authorities have reported that at the present time, there is an additional construction of office and retail spaces underway in Moscow.
Thus, about 1,5 million square meters of office space and 1,8 million square meters of retail space are being currently built in the capital city of Russia. According to a report released on Thursday by The Moscow Committee for the Investment Construction Projects Implementation and Shared-equity Construction Control (Moskomstroyinvest), there is a growing demand for both office and retail space.
“First and foremost, this is due to the lack of quality shopping and mixed-use centers in the city”, the head of the department, Konstantin Timofeev, said.
In his words, over the past seven years, the City Planning and Land Commission of Moscow has approved projects with a total area of 169 million square meters of real estate.