Escrow is not a hindrance to investments: the prospects for the development of the territories were discussed in St. Petersburg

Investment projects as growing-points for the development of the territories in St. Petersburg became the topic of a traditional meeting of the business community with the members of the city government engaged in the construction and investment, organized by Kommersant Publishing House.

The experts discussed the future development of the St. Petersburg real estate market and the interaction of business and government. In particular, the emphasis was placed on the implementation of development projects after the amendments to legislation in the field of shared construction will enter into force.

Roman Golovanov, the Chairman of the St. Petersburg Investment Committee, made a report on state support measures and promising investment projects. He highlighted that the practice of granting the status of a strategic investor is the most significant support mechanism for the development community, which has a number of preferences.

Roman Golovanov said, “Now we have 61 projects with a “strategic” status in our portfolio, including projects such as the construction of the Baltic Pearl, of Yuzhny satellite town, as well as projects involving hotel business. The main investment trend is, of course, the creation of urban infrastructure, primarily transport routes, sports and healthcare facilities, as well as open public spaces.”  

There is a well-functioning scheme of interaction between the investor and the authorities in St. Petersburg, as well as a process of building up personal and operational support for investors for creation of a favorable business climate. Thus, the One-Stop-Shop for investors helps to accelerate the launch of projects and help investors to resolve all emerging issues. The effectiveness of such work can be seen, in particular, in the high assessments of the experts from Russian and international ratings, in which St. Petersburg has been strengthening its position for several years.

Large infrastructure projects that provide a comfortable environment and improve the quality of life of citizens, especially on the outskirts of the city and in the suburbs, can become potential growing-points for the St. Petersburg real estate market. The thesis about the development of modern transport links as a stimulating factor for the development of the territories was supported by the participants of the meeting, an example was the Moscow Central Ring and the creation of Central diameters in Moscow.