Moscow's First Construction Industry Park to Open in Q1 2017

On May 25, 2016, the Government of Moscow and MonArch Group signed a collaboration agreement on innovation in construction technologies. The agreement focuses on the provision of support to technology-intensive construction companies, residents of the future industry park.

The agreement envisions the creation of a technology park for the construction industry. The park will be a part of the city's innovation ecosystem and a gathering spot for the industry's promising companies focused on the development of breakthrough solutions, new products and businesses that will tap into new markets and generate new jobs.

Natalia Sergunina, deputy mayor in charge of economic policy and land-and-property regulations, signed the agreement on behalf of the city government. Sergey Ambartsumyan, MonArch's CEO, signed the agreement on behalf of his company.

"We believe that the technology park will meet its first residents in the first quarter of 2017. The overall volume of private investments in projects related to the support and development of innovation activities is expected to reach 7 billion rubles in 2020. This sum includes investments in the technology park and its infrastructure. The Government of Moscow is ready to provide residents of the technology park with tax incentives by reducing the standard rates for income, property and land taxes," said Natalia Sergunina.

According to her, this project will drive the development of competitive innovations in the construction industry. It will also help engage talented young people in innovation through stronger ties with institutions of higher education.

"We are interested in the creation of promising innovations, and are ready to invest in their promotion and development. Jointly with the Government of Moscow we plan to establish a fund to support innovations in construction and provide grants to young researchers," said Sergey Ambartsumyan.

The total space of the first construction industry park will exceed 10,000 square meters. It will host startups, R&D centers and construction companies.

Future residents' areas of specialization include geological surveying, construction materials, smart utilities, IT and software development, transportation and logistics, environmental management, robotics and construction machinery.

Moscow Agency of Innovations manages the project on behalf of the city.

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