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10 July 2015 |
Igor Chumachenko live on RBC TV: industrial zones development bill needs to be discussed with businessesOn July 8, Igor Chumachenko, VEGAS LEX partner and head of the Real Estate, Land & Construction Practice, gave an interview to the Main News program on RBC TV Channel. He was asked to comment on a story about the Moscow government planning to develop unused industrial zones. Unused and neglected industrial areas account for 16% of Moscow’s territory. A bill allowing the confiscation of unused properties in such areas from their owners has been pushed for by large businesses and the Moscow government and approved by the State Duma in the first reading. If it goes through parliament this fall, it will come into force before the end of this year. The options for the property owners will be either to take part in the area’s redevelopment or to sell the property. The new legislation aims to resolve the unavoidable conflicts with new developers, but the professional community, clearly doubtful about how it’ll work, has insisted on organizing consultations with businesses before the bill’s second reading in the Duma.* “Adopting a law that has not gone through broad public consultations is a time bomb, even if it is supported by developers and investors,” Mr. Chumachenko said in his interview. “It is fraught with future conflicts. It isn’t surprising that people have certain doubts about enforcing it.” The program went on air on July 8, 2015 at 5:30 p.m. A video is available at http://rbctv.rbc.ru/archive/news/562949995995599.shtml *** * Source RBC TV Channel For more information on VEGAS LEX’s services in the real estate, land and construction sector, please click here. |
