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. Last Updated: 07/27/2016

Home Construction Up

MOSCOW -- Housing construction in Russia is expected this year to expand between 4 percent and 5 percent over figures in 1999, when about 35 million square meters of housing were built, a spokesman for the State Construction Committee said Tuesday.

Committee Vice Chairman Albert Marshev said construction speed is especially high in Moscow, St. Petersburg, Samara, Kazan, Izhevsk, Omsk and Chuvashia, with about 60 percent of current housing construction being financed by private capital.

According to Marshev, government housing strategies will be tailored to fit social trends, including aid to low-income residents as they purchase housing. Those strategies are based on a 10-year plan, he added. Social aspects aside, Marshev said the architecture of current construction varies widely from the standard and uniform projects that punctuated Soviet-era construction.