Articles by Christopher Kenneth



City Awards Decade's Best Work

Moscow Mayor Yury Luzhkov and other senior city officials were recently on hand to bestow awards for the last decade of real estate development.

New Look for House of Artists Is in the Works

City Hall is looking into designs that would turn the Krymsky Val 10 art complex ""into the Russian equivalent of the French Pompidou Center in Paris.""

Mortgage Program Gets Market Makeover

City Hall has outlined plans to adapt its faltering home mortgage program to better suit market conditions, official sources said.

Shopping Centers Blooming All Over Town

A new crop of shopping centers, now in their last phase of construction, will soon open for business in the city center.

$200M Pledged to Bring in U.S. Pre-Fab Homes

Social Initiatives Support Fund has reached an agreement with a U.S. group to finance the introduction of so-called ""quick house"" technology, said fund director Yury Maltsev.

Superior Ventures Back on Track at Intourist

Superior Ventures Ltd., has breathed new life into negotiations with City Hall over the Intourist Hotel's rebirth as a five-star Hilton in 2003, official sources said.

City's Economic Zones, Rents to Be Revised

Yury Roslyak, a deputy prime minister in the city administration, said a review of zoning was necessary for evaluating the optimal rental rates for different areas.

Building Moscow Into the New Millennium

Real estate agencies are entering 2001 rejuvenated after finishing a profitable year in which property values inched up and demand grew on the back of a soaring economy.

Ambitious Rossiya Renovations Finally a Go

After a six-year delay and a drastically reduced budget, the project to turn the gigantic, 3,000-room Rossiya complex into three separate hotels is finally underway.

Residential Project to Offer a Club Feel

Construction is in full swing at the $10 million Vremena Goda residential project on Staromonetny Pereulok in the city?s center, a spokeswoman for developer KRT Group said.

City Opens Center For Property Sales

A special sales center for the Moscow city government's new real estate properties was officially opened and presented to the public on Tuesday.

City Ends Growth of 'Exclusive Club of Realtors'

The Moscow city government's property sales department will not accredit any more realtors to market its more than 1 million square meters of residential property.

Low Returns Intensify City's Parking Plight

Finding a place to park your car in Moscow is unlikely to get any easier as the number of vehicles on the streets grows and too little money is being thrown at the problem.

Foreign Competition Prompts Retail Alliance

Four local retail giants have announced plans to combine their efforts, resources and knowledge to set up chains of supermarkets.

Foreign Investors Set Sights on Local Property

Foreign investors are showing renewed interest in the Russian property market.

Banks Can Count Offices as Capital

The Central Bank has given banks permission to count their buildings as authorized capital.

Novinsky Passes From Monks to Managers

Construction of a new class A office complex on the grounds of the historical Novinsky Courtyard is on pace to be finished by the end of the year.

City Overhauls Free Housing System

City Hall last week unveiled a new plan to streamline its subsidized housing program.

Tsarist Housing Scheme Resurrected

City Hall plans to reanimate the dokhodniye doma, a pre-revolutionary housing scheme under which the city government builds and rents out apartments.

Moscow to Abolish 49-Year Land-Lease Policy

City Hall plans to scrap its policy offering 49-year leases on land as it moves toward selling sites through open tenders.

Timura Frunze Complex in Final Stages

After three years of construction the final touches are being put on a new office building in Moscow.

City Begins $400M Kurkino Housing Project

The Moscow city government has kicked off a $400-million housing estate project.

Refurbished Gostiny Dvor to Open Its Doors

Gostiny Dvor, a historic architectural composition undergoing a $302 million major reconstruction for the past five years, was finally opened to the public last week.

City Plans to Limit Office Space for Central Sites

A proposal to limit the size of office buildings will raise property prices in the city's center.