Moscow's half-empty $12 billion financial district looks worse than you imagined

BI ^ | 3 Mar 14 | Christian Storm and Elena Holodny

[elhombrelibre]

Moscow's financial district, with its $12 billion worth of skyscrapers, was meant to be a gleaming beacon for Russia's post-Soviet market economy.

But now with Russia's economy in free-fall, the Moscow City complex property values have nosedived, construction sites are abandoned, and vacancy rates have soared to 45%, according to real estate consultants Blackwood.

[elhombrelibre]

Thanks. Those are a beginning of the books I’d recommend to anyone.

[free_life]

Nobody....nobody....nobody will invest in Russia and that is their end, economically they are the walking dead.

[elhombrelibre]

I agree. And the decline in oil prices will make it impossible to meet the budget needs of Putinstan. However, since many of the Russians are keen with a President for Life, they may be quite content to live their lives again in poverty as long as they can get drunk.

[RegulatorCountry]

I chalked it up to political confusion with a theological basis.