25 May 2004 12:18
RENTS FOR NON-RESIDENTIAL PREMISES IN MOSCOW MAY SOAR 50% IN 2005
MOSCOW. May 25 (Interfax) - The rates of renting non-residential premises in Moscow may jump some 50% in 2005
compared to this year as the result of a tentative financial plan for 2005-2007 approved by the city government on
Tuesday.
Head of the economic police and urban development department Marina Ogloblina told the government meeting that the
rates for city- owned premises will be brought to market levels more rapidly than before. To this end, the rates of rent
for small businesses will be boosted by no more than 25% in 2005, and for other businesses by no more than 50%, she
said.
The city authorities in the next three years intend to introduce auctions for renting out premises in which contracts
will be awarded to the highest bidder.
[Interfax] |
RUSSIA IN FACTS
