A socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; and business, public, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad.

The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 165 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 76 countries worldwide, and 154 Russian public organizations, federal and legislative agencies, and federal subjects.

The Roscongress Foundation has Telegram channels in Russian (t.me/Roscongress), English (t.me/RoscongressDirect), and Spanish (t.me/RoscongressEsp). Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.

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Post-Pandemic 2020: Changes at the Real Estate Market

In the article RBK addresses impact of coronavirus pandemic on the real estate market, including commercial and business premises.

Real estate market has found itself in the midst of crisis. The majority of commercial property is used for business purposes related to customer visit. In terms of lockdown and turnover decrease, a half of players already went bankrupt, and another half cannot afford to pay rent at the pre-crisis rates.

According to the Russian Federal State Statistics Service, real disposable household income in the Q2 has decreased by 8% and the GDP — by 9.6%. Recovery will be slow, therefore, we are entering a new reality where we need less grocery stores, shops, hotels, offices and apartments. Falling demand in real estate shall naturally lead to price decrease.

Quarantine has influenced the real estate market in different directions. Rental market, being the most flexible, has immediately responded with decrease by 10-20%: the tenants have lower income, so they are not able to pay at the pre-crisis rates. On the contrary, suburban rental market has increased: some property, especially, premium class, has become far more expensive.

Read the entire article at: https://realty.rbc.ru/news/5f224c839a79471e55d7afda

For more information about construction as a sector with a sizeable share in many economies, rising level of digitalization, and shifts in consumer sentiment in real estate, please see the Building and construction, Housing and Utilities and StayHomeEconomy.

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