OREANDA-NEWS. On 07 June 2008 was announced, that Vladimir Resin, first deputy city mayor of Moscow, invited the Israel businessmen to participate in large construction projects in the Russian capital.

“It is necessary to participate in the city life in a vaster scale, to participate in its investments,” Mr Resin declared at the opening of Moscow-Tel Aviv business forum in the Israeli city on June 4.

The official specified the biggest construction projects planned by the city authorities – the reconstruction of airports and large hotels, the erection of business, shopping and entertainment centres, the development of transport infrastructure.

“A promising area for investments is the construction of 3-star and 4-star hotels meant for a broad spectrum of potential customers. A competent management enables to cover the investment in the hotel sector approximately in 5 years,” Mr Resin said.

The first deputy city mayor of Moscow gave a detailed account of the program of reconstruction of the old housing. Moscow allocates \\$1.7 billion and 50,000-100,000 builders for realizing the program in 2008 that is much bigger than in previous years.

Mr Resin advised as well to pay attention to the reconstruction of the historical centre of Moscow where about 300 large objects were being erected and reconstructed. He mentioned as an indicative of reliability of investing in Moscow that the city budget of the Russian capital exceeded \\$42 billion and was less only than the city budget of Tokyo.