Moscow builds

Moscow to Have Over 200 Skyscrapers by 2015

Moscow will have 60 territories with over 200 skyscrapers by 2015, Vladimir Resin, who is in charge of architecture, construction and rebuilding activities of the City Hall, announced in Moscow Friday, during the International Investment Construction Forum. The number of floors in a building will be above 30.
The skyscrapers will change faceless image of bedroom districts in Moscow, Resin said. “In the environment of acute shortage of territory in the city, it is necessary to bring momentum to construction of skyscrapers.”

The plans are to construct roughly 70 million sq meters of housing area in Moscow by 2020. Some 12 million square meters of social housing will be constructed by 2010, and the indicator will exceed 2 million square meters in 2007.

This year's construction under the Moscow Social Mortgage Program is estimated to reach 500,000 sq meters, 200,000 sq meters up on year. Moreover, the amount of initial payment was notably reduced, Resin said, adding they plan to trim the annual interest rate to 7 percent or 8 percent.

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