Russian construction industry recovery continues

The Russian construction industry recovered some semblance of stability in 2010 and gradually began to pick up again after the downturn. This upturn in fortune was achieved despite the tight budgetary situation, which eventually resulted in certain cuts, e.g. in the area of transport infrastructure development.
Over the past year, an increase in activity has been recorded in the residential sector, however, it has mainly been in the form of increased demand for housing and greater competition for land plots being sold. Very few new residential developments were commenced; instead, developers focused on the completion of ongoing projects.

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