Moscow Investors Association (Russia) has launched an unprecedented advertising campaign in Washington D.C., which includes multiple ads in the Washington Post, among other top-tier metro outlets, and will be followed by billboards at major intersections of the Capital. The campaign goal is to attract U.S. investors to Moscow – the city that has had a major construction boom in the last 5 years and is now growing at a record pace.
The new campaign, which is running from mid-August through September, is featuring a catchy “Moscow is Doing Business” slogan and various colorful new sites of Russia’s capital. It is also highlighting some impressive facts for the U.S. target audience: “Moscow’s Rust Belt – 17 percent of the city – will be redeveloped by contracting 1.2 million sq. feet of housing and commercial real estate by 2020”. “The urban development potential of New Moscow is over 1 billion sq. ft. Over 430 miles of roads and more than 30 miles of metro lines will be built by 2035.”
The D.C. target audience is introduced to the New Moscow – a large private-public construction project, which will provide housing for 1.5 million residents and create 1 million new jobs.
According to PriceWaterhouseCoopers, Moscow is ahead of London and New York in new construction output with 1.74 of new sq. m per capita. Moscow has also ranked as the ‘greenest’ city among the three capitals. The green area of the Russian capital is twice as large as in New York and by 2% larger than London’s.
Out of all real estate that has been built in Moscow, 89% was funded by investors and only 11% was used from the city budget. By targeting major U.S. investment institutions and D.C. real estate investors, the City of Moscow is hoping to solidify financing opportunities and to expand its portfolio. Recently, administrative barriers for new construction projects in Moscow have been lowered as investors have voted with their wallets for the change.