The RF Minister of Construction, Housing and Utilities, Mikhail Menn, has opened the session entitled, “Russia 2016: Innovation Vector in the Urban Development”, within the framework of the major international real estate show for professionals (MIPIM) in Cannes, France.
Russia is open for investments in the construction sector and the government has created a favorable environment in this area. This statement was made by the RF Minister of Construction, Housing and Utilities, Mikhail Menn, speaking at the major international real estate forum MIPIM-2016, which is taking place in Cannes, France.
In particular, as Construction.ru was told by the department’s press office, the Minister has stressed that, compared with the Soviet period, a record number of residential buildings have been rented for the second year running.
For the last year, 30% more economy-class housing was commissioned.
“The most important task for today is to support housing demand, and the government is actively accomplishing it – for the second year running the mortgage subsidy program is being realized, due to which, last year every third apartment bought in the primary market by means of a mortgage loan was acquired under this program”, said Mr Menn.
Speaking about Russian development at the round table, organized by the “Kommersant” publishing house, the Minister indicated that for the purpose of attracting investments, the government is also actively solving the problem of administrative barriers.
“The state authorities are today implementing large-scale complex work to eliminate excessive administrative procedures and the terms of their implementation regarding construction objects connected to utility facilities, which will result in considerable savings for the investor, as well as the reduction of terms of the projects’ realization”, stressed Mikhail Menn.
