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Tele2 takes on Moscow’s ‘big three’ mobile operators

Advert for Tele 2 RussiaDiscount mobile operator Tele2 will next week launch in Moscow in a bid to to break the near monopoly that Russia’s ‘big three’ telecoms companies – MTS, VimpelCom and MegaFon – currently enjoy in the capital. 
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Moscow house sales plunge 38% as prices stay high

Flats in Moscow suburbMoscow house sales fell by 38% year-on-year between June and August as the country’s recession continues to work its way through the economy, according to a new report from the Federal Service for State Registration, Cadastre and Cartography (Rosreestr). Some (more…)

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Moscow plunges down 2015 Mercer Cost of Living survey

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Rouble collapse brings down Russian tourism costs with it

St Petersburg

St Petersburg

stpetersburg.com

Rouble collapse brings down Russian tourism costs: The dramatic devaluation of the rouble has had an equally significant impact on the cost of visiting what have in recent times been some of Europe’s most expensive cities. According to the Europe Backpacker Index for 2015, St Petersburg is now the tenth cheapest popular tourist destination in Europe, while it is now cheaper to visit Moscow than Ibiza, Rome or Edinburgh. According to the index, the 20 cheapest European cities to visit are: 

  1. Kiev
  2. Bucharest
  3. Sofia
  4. Krakow
  5. Belgrade
  6. Warsaw
  7. Sarajevo
  8. Budapest
  9. Cesky Krumlov
  10. St Petersburg
  11. Riga
  12. Zagreb
  13. Vilnius
  14. Bratislava
  15. Istanbul
  16. Split
  17. Prague
  18. Ljubljana
  19. Tenerife
  20. Moscow
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Moscow approves two-year tax holiday for business start-ups

White Square Office Centre Moscow

White Square Office Centre Moscow

AIG

Moscow approves two-year tax holiday: The authorities in Moscow are to take advantage of legislation introduced late year giving regions the right to set a zero tax rate for newly registered concerns between 2015 and 2020 and is introducing a two-year tax holiday to boost its small business sector. Russia’s capital is also to offer SMEs (more…)

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Lotte Group pledges $1bn investment in Russian retail and hotel sectors

Atrium Shopping Mall MoscowLotte Group, the South Korean multinational food and shopping corporation, this week pledged to invest up to $1bn in Russia’s hotel and retail sectors and is in negotiations to acquire the 103,000 m² Atrium shopping centre in Moscow’s Garden Ring near the Kursk railway station. It is also planning to develop a $140m hotel in St Petersburg and to capitalise on the opportunities that it predicts will arise in the wake of the current economic crisis.  Lotte already owns a shopping centre on the capital’s Novinsky Boulevard. 

 

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Sports Innovation Centre planned for Moscow

Skolkovo Technology Park

Skolkovo Technology Park

Sports Innovation Centre planned for Moscow: Skolkovo Technology Park and the Russian Olympic Committee are joining forces to develop a new Sports Innovation Centre in the Russian capital. The centre’s mission will be to promote R&D in sporting and biomedical technology and sporting rehabilitation technology, and to explore (more…)

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Moscow retail expansion plans fall victim to recession

Shopping complex MoscowMoscow retail expansion plans: Plans to build 900,000 m² of new mall space in Moscow this year are rapidly receding as Russia’s growing economic crisis restricts developers’ access to financing and slashes consumer spending, according to analysts from (more…)

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Demand for Moscow office space drops by 24% to five-year low

Moscow business district by nghtDemand for Moscow office space dropped by 24% last year, according to property consultants , Jones Lang La Salle (JLL). The estimated annual take-up of 1,.1 m² was, it estimates, the lowest in five years. “The structure of demand has noticeably changed with the share of renewals and renegotiations comprising 40% of the total amount of deals in 2014 from 20% seen in 2013,” analysts at JLL reported yesterday (January 28). With GDP expected to fall by between 4% and 6% this year, they are anticipating a further 25-30% decrease to 700-800k m². ITAR-TASS Read More»

Moscow airports to be handed over to private sector

Vnukovo International AirportMoscow airports: Responsibility for the upkeep of runways and aprons at Moscow’s airports should be transferred over to the private sector, Russia’s Deputy Prime Minister Igor Shuvalov said on a trip to Vnukovo airport this weekend. His government was in the process of negotiating concession agreements with private companies looking to run both Vnukovo and Sheremetyevo airports, he said, and that terms should be finalised in the near future. Interfax   Read More»

Metrovagonmash wins $2.6bn Moscow Metro contract

moscowmetro Metrovagonmash, the Russian train maker, has won the international contract to supply 96 trains for the Moscow Metro after several major foreign producers declined to take part. Metrovagonmash is a subsidiary of Russia’s biggest rail car and equipment producer Transmashholding, and has agreed to supply the new trains and service them over a 30-year period for around RUB130 bn ($2.6bn). (more…) Read More»

Pioneer Group wins Sberbank funding for Moscow residential complex

The Pioneer Group, one of the largest residential and commercial property developers operating in and around Moscow and St. Petersburg, has been extended a 5-year RUB 8,3bn credit line by Sberbank for the construction of a residential complex in the Russian capital. Construction is scheduled to begin later this year and be completed in early 2017. Lenta   Read More»

Moscow Metro circle to be ready by 2020

Moscow Metro circle: The 58-km circular expansion of the Moscow Metro line should be fully operation by the end of the decade, the city’s mayor Sergei Sobyanin said today. The first 13-km section will now be ready by the end of 2016 with the remaining sections being constructed simultaneously rather than sequentially as had been originally intended. The Moscow Times     Read More»

Moscow congestion charge moves up agenda

Moscow congestion charge: The idea of charging vehicles for entering Moscow needs elaboration but has not been ruled out by the city’s authorities. The possibility of introducing a congestion charge for cars and commercial vehicles entering the area within the Ring Road was aired this week by the Institute of Transport Economics Director Mikhail Blinkin. Vedomosti   Read More»

Moscow Metro mobile network to be put out to tender

Moscow Metro mobile network: The Moscow City Government has decided to appoint a single operator to set up and run mobile networks in the city’s Metro. Setting up the network is expected to cost around RUB5bn and to have an ROI of between six and seven years, and will be put out to tender by the end of 2014. Gazeta  Read More»

MIPC sells property assets in Moscow

MIPC sells property assets: The Moscow United Energy Company (MIPC) is putting five offices and 12 buildings up for sale for around RUB 1.7 bn. The assets will be sold at public auction. rbc   Read More»

Russian Railways recapitalised to fix Moscow transport system

Moscow transport system: The Russian government has decided to increase the authorized capital of Russian Railways by around RUB12bn. The extra capital will be largely used for the development of the Moscow region’s transport complex. Gazeta
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Luzhniki Stadium reconstruction to cost RUB19bn

Luzhniki Stadium reconstruction: It is going to cost RUB19bn to renovate Moscow’s Luzhniki Stadium before it can host the 2018 FIFA World Cup’s opening ceremony and the final, the city’s construction department has estimated. The stadium’s capacity is to be increased from 78,000 to 81,000 by Q2 2017 and will be turned into a multifunctional sports complex capable of hosting more than 200 large cultural events each year once the tournament is over. The Moscow Times

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Russian Railways PPP solution for Moscow rail station repairs

Moscow rail station repairs: Russian Railways has awarded the Central Suburban Passenger Company (TsPPK) a 15-year, RUB1.3bn annual rental contract in return for the upgrade and repair of Moscow’s suburban stations and railway aprons. The contract covers 2,400 platforms, 226 stations, offices, halls and other property with a total area 2.68 m2Kommersant

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Moscow liquor licence warning

Moscow liquor licence warning: More than half of Moscow’s stores and restaurants could lose their liquor licenses if they do not submit revenue statements immediately, the head of the city’s trade and services department Alexei Nemeryuk warned last week. Recent legislation requires all bars, restaurants and retail outlets to declare how much revenue they make from alcohol by today, but to date only 57% have complied. The Moscow Times

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