Moscow to provide benefits to investors creating jobs outside the city centre

Moscow government is to provide benefits to investors engaged in the construction or reconstruction of commercial buildings outside the Third Ring Road. Moscow Mayor Sergei Sobyanin reported on this Moscow Government’s decision during the inspection of the Novomoskovsky Medical Centre currently under construction.

“It is very important for us not to have a so-called commuter belt, remote areas, we want all Moscow districts to develop comprehensively. Each district must provide a quality education, health care and social assistance. Certainly, jobs creation is of great importance, too. In New Moscow, the number of residents has been increasing together with the number of jobs. It is not easy, and the economic situation is not always favourable for investors. Just yesterday, the Moscow Government decided to cancel the extra fee for construction of commercial facilities beyond the Third Ring Road,” said Sergei Sobyanin.

According to Moscow Mayor, there is an intense commuting in Moscow, every day millions of Moscow residents get to work in the centre from remote areas. One of the key objectives of the Moscow Government’s urban planning policy is to reduce home-to-work travel time for citizens. To do this, since 2011, creation of jobs  (shops, offices, technopark, etc.) outside the Third Ring Road has been facilitated.

Over the past eight years, about 15 million sq m of commercial real estate has been built up in Troitsky and Novomoskovsky administrative areas, in the rearranged industrial zones and other territories outside the Third Ring Road. As a result, 87% of new jobs in Moscow are being created outside the city centre and in 144 of 146 districts of the capital, thus improving the situation with jobs.

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