The past year was the most important in the short history of the country's real estate market. For the first time, we faced a situation where there was no longer a need to build, build, and build. "Project egoism" was justified several years ago, when it was necessary to provide adequate space to a growing business in the shortest possible time. Today, it is important for a developer to understand that his project is no longer limited by the walls of a building. Commercial real estate development should take place in conjunction with urban infrastructure. In Moscow, commercial real estate has become an integral part of the urban environment.

The most progressive developers have long understood that in order to build an exceptional project, it is necessary to pay attention not only to its technical characteristics, but also to the public space. For example, the office block "White Square" next to the Belorussky railway station is a striking example of such a philosophy. Now it is not only one of the most popular business centers in the city, but also the epicenter of a new urban environment, which was created on the site of abandoned courtyards and fences. This approach has also brought a predictable commercial effect. This building not only has some of the highest rental rates in the city. In terms of investment attractiveness, it surpasses most high-quality projects.

Moscow inherited more than 15,000 hectares of industrial land from its rich industrial past, some of which are located in the central part of the city. These areas must be reclaimed. A coordinated position of the city and investors on the development of this vast legacy will provide a large field for investment activity in the coming periods. The city already has examples of successful development of industrial areas: the Krasnaya Roza business quarter (former weaving factory), the VimpelCom headquarters on the Garden Ring (former Tizpribor plant), the Novospassky Dvor business center, the Stanislavsky Factory business center, and Aurora Business Park. All of these objects form the urban space taking into account the modern requirements of city residents and the interests of investors. It is obvious that other industrial areas also have the potential to be integrated into the life of the city.

Moscow, like all cities in the world, competes for talent, innovation and investment. Without attention to creating a comfortable urban environment, the capital as a global business center will continue to lose to London, Singapore or Zurich. And here it is very important not to reinvent the wheel, but to use existing international experience.

Nowadays, only the lazy do not talk about the fact that the Moscow construction industry until recently was a closed system with a closed and non-transparent decision-making process, with rules that reflected the interests of a limited circle of people, with a complete rejection of "outsiders". But the commercial real estate market is global, the majority of investments come from international funds. Therefore, Moscow, rejecting globally accepted rules of the game and project development strategies, deprived itself of the opportunity to play a significant role in the formation of assets of international funds.

The system of checks and balances, which plays an active role in self-regulation of the market in most developed cities, did not work in Moscow - neither banks nor the city administration performed a control function. Banks were supposed to refuse financing to economically inexpedient projects, and the authorities - to limit the development of projects that ran counter to the development of the city's infrastructure. It is clear that when pragmatism and common sense began to prevail in the city's urban development policy and most investment projects were revised, the city faced the urgent issue of developing a balanced development strategy with clear and understandable priorities.

Now is the time for a new, more coordinated development of Moscow, where the city will set priorities, listening equally to the opinions of business, investors and citizens and attracting both Russian and international investments to the implementation of projects, supporting the creation of infrastructure and socially significant facilities with its own powerful financial resources. And when investors understand the rules of the game, the best projects will be born as a result of healthy competition of ideas.

Point of view: Think about the city