The Moscow authorities decided to build 10 million square meters of real estate around the Moscow Ring Road

10 mln square meters of real estate will be built on the lands adjacent to the Moscow Ring Road. This could be the largest construction project in the capital after the renovation project. Profitability of the project is low, experts warn.
Origin source
Residential and commercial buildings

On the territories belonging to the capital, adjacent to the Moscow Ring Road, it is planned to build 10 million square meters. M property, told RBC the head of the department for the development of new territories in Moscow, Vladimir Zhidkin. We are talking about tens of thousands of hectares of land, both from the inner and the outer side of the Moscow Ring Road, along the entire length of the route, the official said.

Half of the building will be residential, it is also planned to build office, production and other facilities. The maximum height of houses will depend on the area. According to Zhidkin, it can be 12, 17 or 25 floors. "Low-rise buildings do not make sense to build near the Moscow Ring Road, for this there is New Moscow," the official said, noting that the exact amount and parameters of the building will become clear after the development of the territorial scheme of the areas adjacent to the Ring Road.

The territorial scheme is planned to be approved before the end of the year. In 2018, the first draft plans for specific sites should appear. In addition to real estate, it is planned to create recreational zones - recreation parks, bicycle paths, ski slopes, sports facilities, the official said.

Zhidkin did not say which structures will implement this project.

The territorial scheme of the plots adjacent to the Moscow Ring Road is being developed as part of the Koltsevoi Reconstruction Project. In 2017, its second phase is due to begin, within which 100 km of new upper strips and 200 km of congresses, overpasses and tunnels will be built. The works are designed for five to ten years. The cost of reconstruction is estimated at 100 billion rubles. Previously, officials in the capital said that free areas along the route could be given up for investors.

The largest project

Except for the renovation program, within which 32-33 million square meters will be built. M of housing, the development of the development of the Moscow Ring Road may become the largest on the territory of Moscow. According to the Est-a-Tet company, today the largest residential construction in Moscow is the Nekrasovka microdistrict in the territory of the former Luberetskian aeration fields (more than 2 million sq. M.); In the Zlirt LCD (LSR) and the City on the Tushino-2018 River (the developer - the structure of the co-owner of LUKoil Leonid Fedun) is planned to build more than 1.5 million square meters. M in each. Also about 1.5 million square meters. M of real estate will appear in LCD "Symbol" ("DonStroy Invest").

"In Moscow, a huge building complex, which must be constantly loaded, otherwise 1 million people will remain without work. This prompts the authorities to seek new territories for development, "believes the former head of the NIiPI Moscow Master Plan, Sergei Tkachenko. At the same time, such large-scale projects as construction of industrial zones, MKAD and renovation will not be implemented as quickly and as large as stated, the expert is sure.

Most likely, during the project, the volume of housing will be increased, and commercial real estate - reduced, said managing partner of the consulting company Colliers International, Nikolai Kazansky. "It is simply not advisable to build such a volume of commercial real estate on the Moscow Ring Road in the current economic situation," the expert explains.


Residential part of the project can be of interest to many large developers, says Kazansky, in particular PIK, FSK "Leader", LSR and Etalon. When choosing an investor, the authorities will give priority to large experienced developers who have their own production facilities, agrees the managing partner of GK Osnova Oleg Kolchenko.

Head of marketing and market research FGC "Leader" Ksenia Tsaplina told RBC that the company is always open to cooperation with the city, refusing further clarification. Developers may be interested in areas near the Moscow Ring Road, if the city decides the transport infrastructure problem, believes Yuriy Ilyin, Director of Investor Relations and Public Relations of LSR Group. "In addition, it is necessary to clearly understand how close the neighborhood of residential buildings will be to the Moscow Ring Road," Ilyin said. The press service of the PIK Group declined to comment. Representatives of the "Standard" have promised to answer the questions of RBC in the near future.

The implementation of such a global project is actually blurring the borders between Moscow and the region, the Moscow Ring Road is becoming an intracity road, Evgeniy Sandler, commercial director of the GK "Ingrand", points out. "At the same time, it seems that the authorities are deliberately moving along the road of squeezing small builders out of Moscow who are unable to work on a small margin," says Dmitry Kotrovsky, a partner of Khimki Group.

According to his estimate, the cost of construction of 1 square. M of the total area is about 45 thousand rubles. Thus, the construction of 5 million square meters. M will cost 225 billion rubles. "The cost of selling housing in the MKAD area is about 85-90 thousand rubles. For 1 square. M, continues Kotrovsky. - Out of 5 million square meters. M in the sale will come about 3 million square meters. The revenue is about 255 billion rubles. "Thus, the project's margin is about 30 billion rubles, or 13%, excluding marketing budgets and the cost of loan servicing.

Taking into account the cost of social infrastructure and land purchase, the investment value of 1 square. M may be even higher - about 80 thousand rubles. On 1 square. M, confident Kolchenko.

Unclear profitability

Market participants differed in assessing the investment attractiveness of the project. The head of the Est-a-Tet project department, Vladimir Bogdanyuk, is sure that interest from developers will be low - from 2014 the demand for new buildings near Moscow is declining, now it is 14% lower than two years ago. The proximity to the Moscow Ring Road has long been not a negative factor in assessing the potential redevelopment of sites, says Ksenia Tsaplina. "We have a number of neighborhoods in the Moscow suburbs, which are located no more than 1 km from the Moscow Ring Road, the proximity to which is an advantage for the buyers," Tsaplina points out. Projects at the Moscow Ring Road are in demand, especially when it comes to economy and comfort class, agrees the development director of the Granel Group of Companies Andrey Tsvet.

The profitability of such projects does not exceed 5-10%, says Zaplina. According to Andrei Tsveta, the maximum profitability of the builder when building housing on the Moscow Ring Road without encumbrance in the form of road infrastructure construction will be 15%, with it - no more than 10%. "Otherwise it will be unprofitable," he sums up. At the same time, the presence of encumbrances in the form of construction of transport infrastructure is usually an occasion for negotiations between the developer and the city to find a solution that suits everyone, Tsaplin concludes. The authorities understand how much the developer can earn, so the issues of encumbrance with the road infrastructure will be decided on an individual basis, Kolchenko agrees.

Traffic jams

The new large-scale development will not cause traffic jams on the Moscow Ring Road, if high-speed lateral drivings are built, says Vladimir Vlasov, head of the transport telematics department at MADI. Unlike conventional congresses, they are located at an acute angle and have a long extension, so the cars do not have to brake and occupy several rows for turning. Overclocking lanes will allow the MKAD itself to travel relatively freely, but traffic jams can occur at the congresses and mini-doublers Koltseva, said RBC curator Project Diana Khakimova. "The development of 10 million square meters. M real estate means the influx of tens of thousands of cars, "explained Khakimova.