Over 120 km of embankments by Moscow River are set to undergo complex redevelopment, said a top official, adding that the opportunities for investors from the GCC are extensive.

The redevelopment will create a public space that is to become one of the largest in Europe, according to Marat Khusnullin, the deputy mayor for urban-planning policy and construction in the city of Moscow.

“This has huge investment potential of 17 million sq km, according to our preliminary estimates. For realisation of the projects we plan to attract private investments and we are ready to provide the most favourable investment climate for them. A dialogue on partnerships between the city and investors is already under way. The share of budget financing of the project will be around 35-50 per cent of the overall funding,” he said.

Khusnullin was speaking with reference to the first international contest for the development of waterside territories by the Moscow River saw huge interest from architects across the globe.

The winner is an international consortium headed by Project Meganom (Russia). Their concept will lay the foundation for a wide-scale reconstruction project of over 10,000 hectares of public space surrounding the Moscow River, including renovation of over 120 km of embankments, parks and public spaces, construction of convenient transport and footbridges, as well as introducing a network of river tour routes.

The project presented by Chinese Turenscape came second, but some of the solutions provided within it will be used in the final concept of the development of the Moscow River’s waterside territories, according to Marat Khusnullin, the Deputy Mayor for urban-planning policy and construction in the city of Moscow.

Results of the international contest on the development of the Moscow River’s waterside territories were revealed on December 11 at the press conference held at the Fourth Moscow Urban Forum. The winner, an international consortium headed by Project Meganom (Russia), was announced by Sergey Sobyanin, mayor of Moscow. The winner was closely followed by Turenscape (China).

The length of the Moscow River’s water line is 201 km, while the total area for potential development reaches around 10,400 hectares. According to the Construction Department of the Moscow Government, the territorial and infrastructure resources of the Moscow River constitute around 10 per cent of the city’s space, being home to around 2 per cent of the residents of the capital and 8 per cent of its economically active population.

Khusnullin noted that the project presented by the Chinese team stood out for its well-developed ecological strategy, which contains suggestions on environmental enhancement of the river itself and the riverbanks.

“Turenscape has a vast experience of project realisation in various megacities throughout the world, and their project for the Moscow River is focused on ecological urban development. In this regard the Mayor of Moscow has instructed to take into consideration the best solutions proposed by the Chinese team when approving the final concept of the development of waterside territories of the Moscow River,” added Marat Khusnullin.

As part of the Moscow River development, the urban redevelopment of Tushino airfield, the territory of Rublyovo-Arkhangelskoye international financial centre, embankment along the Moscow City and a part of former ZIL car manufacturing facility has already begun.

During the first stage of the Moscow River development project, expected to be completed by 2017, the renovation process will affect public spaces and parks. Special zones along the river have been identified to serve as cultural and social centres for the riverbank development.

The first changes will be noticeable as early as next spring. By 2035, according to the estimates of the Moscow authorities, the Moscow River is to become one of the busiest parts of the Russian capital. – TradeArabia News Service