MOSCOW, Aug 23 (PRIME) — The Moscow city government plans to invest around 700 billion rubles in the construction of housing in the city in 20122016, the citys Mayor Sergei Sobyanin said Tuesday, citing an approved housing program.
The government plans that around 2.5 million square meters of housing is to be built in the city per year in this period, Sobyanin said. Of the total, the annual construction of 700,000 square meters of housing is to be financed from the budget, he added.
Thus, under the program a total of around 12.7 million square meters of housing is to be built in Moscow in this period, the citys Deputy Mayor for city planning policy Marat Khusnullin said. Of the total, the construction of around 3.8 million square meters of housing is to be financed from the budget, he added.
The government also plans to upgrade around 23 million square meters of housing by 2016, Khusnullin said, adding that investments from the citys budget were to amount to 128 billion rubles. At present, around 50% of the citys housing stock, or 108 million square meters of housing, needs to be extensively repaired, he added.
Separately, Khusnullin said that the government planned to develop an extra program to build housing territory that is to be added to Moscow. Moscows city limits are to be expanded by 160,000 hectares, Sobyanin said earlier in August.
(29.2555 rubles U.S. $1)