OREANDA-NEWS. On 25 June 2008 was announced, that  Moscow needs to put up about 15 million sq m of nonresidential premises to lease them to small and medium size enterprises.

“A minimum volume of the requisite construction totals roughly 15 million sq m of nonresidential premises,” Vladimir Silkin, head of Department of City Property of Moscow, said on June 24.

According to the official, the city has an enormous problem of a shortage of nonresidential premises for small and medium businesses. “This problem of the shortage of premises can be solved only by new development at the expense of the city budget,” Mr Silkin noted.

The head of the Department of City Property of Moscow added that the private industry of Moscow built 560,000-600,000 sq m per year.