Stop on request?

Stop on request?

By: Alexander Shevchuk

During the 'golden age' in the development of the real estate market of the capital, many real estate experts indicated some areas where new development would necessarily increase their prestige.

For example, Chistiye Prudy, Zamoskvoreche… However, the recession and later the change of power in Moscow and the freezing of almost all projects in the historic center challenged the optimistic attitude. The emerging infill projects are unlikely to significantly affect the situation, and we have yet to wait for the concept of 'renovating' the city center. It seems that everything is up for grabs and only developers, while promoting their projects, are trying to somehow present the area of the future housing development as worthy of residence.

We asked the leading real estate market players to comment on this situation. Among the issues proposed for discussion were the following. What areas in your opinion have never experienced the necessary development? The reasons why this happened? What should the capital authorities do to use the 'gold' reserve? What areas would you qualify as undervalued, and the emerging projects as having failed to become 'anchors' and receive proper continuation?

Sergei Migunov, Head of the Marketing and Development Department at the Konti Group:

Whereas in the 1990s, the center of the capital was actively developed, beginning with the 2000s this turned into the renovation or construction of shopping centers, some of them being quite promising. The crisis adjusted these trends. At the moment, the most promising are the peripheral areas of the capital. For example, Yasenevo: according to the new urban development plans, it will virtually become the center of the metropolis. Next – the Troparyovo-Nikulino district. The area is also green while being close to major shopping malls and the developing science city of Skolkovo, which will also boost its development. The neighboring districts of Strogino and Krylatskoye with their extensive recreational areas. Their residents are able to enjoy an extensive infrastructure. Outside the Moscow Beltway, I would like to highlight Mitino and Kurkino. Extensive construction of business centers is under way on the border of Mitino, which will have a definite impact on residential construction. In Kurkino, it is suggested to build a light rail track from 'Planernaya' metro station that will allow resolving the transport problem. The problem of these historic districts is that there is no room for large new facilities, we can only build something small or remodel old buildings. Competent renovation of industrial areas can saturate the market with new offers, create a more comfortable and safe living environment, enhance the prestige and value of real estate in the area.