“The approach itself – with compensation for the investors’ costs — is perfectly sensible”, says Nadezhda Kosareva, President of IUE. Investors, however, think ‘on a large scale’. They are rarely satisfied with ‘one-off’ projects, unless these are in central zones (especially where town-planning regulations allow to produce more dwelling space than today).
“The most investment attractive destinations are territories, for example, a neighborhood area where, along with hazardous buildings, there are some objects that could also be demolished. Relevant legislation, regrettably, is not yet finalized. But once the law is finalized, it would be very interesting for investors. In major cities, particularly in zones with high housing prices, no compensations of the sort as proposed above will be required. But in other zones and areas these will certainly be highly appropriate”, said Nadezhda Kosareva.
