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On 19-21 September 2018, there was PROESTATE-2018, the ХII International Real Estate Investment Forum, held*.

Leading Russian and international experts in urban development conventionally took part in the forum. Among them there were top managers and directors of developer’s and construction companies, federal and regional state officials, representatives of foreign government delegations, bank clerks, specialists and experts of investment funds, financial and commercial structures, lawyers, architects, urbanists, regional businessmen, representatives of service and manufacturing companies.

The organisers of the forum were Minstroy of Russia, the Moscow Government, the Department for Development of New Territories of Moscow, Moskomstroiinvest, the Association of Investors of Moscow, the Russian Guild of Property Managers and Developers, the Academy of Real Estate (ARE) and the PROEstate Events.

The program of the event was rich not only in business discussions, but in educational workshops arranged by the Academy of Real Estate**.

Igor Chumachenko, Partner, Head of Real Estate, Land & Construction practice of the VEGAS LEX law firm took part in the business discussion on the topic of “Regions of Russia – opportunities for growth”, organized by the Russian Guild of Property Managers and Developers. In the course of discussion, the participants considered investment opportunities, state and private resources required for development of Russian cities and towns.

Mr. Chumachenko spoke of possible organizational and legal models of implementation of developer’s projects based on establishment of a joint venture or an investment partnership and through contractual structures (by means of application of elements of futures contracts, construction contracts, contracts not defined in the Civil Code of Russia and simple partnership agreements). The partner marked advantages and disadvantages of each of the models and paid special attention to risks arising in the course of implementation of construction projects.

At the end of the business programme of the forum, there was PROESTATE & CRE Federal Awards 2018***, the first federal award in residential and commercial real estate market of Russia, held.

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*PROESTATE is the key real estate event in Central and Eastern Europe, which unites over 4300 leaders of the sector from 30 different countries. The forum has been held since 2007 and it serves as an occasion, where the main real estate market players meet. http://www.proestate.pro/o-pro

**Academy of Real Estate (ARE) was founded based on activities of the Russian Guild of Property Managers and Developers Non-Profit Partnership and PROEvent, and it brings together long-term experience and expertise in arranging events for the professional market.

***The award was created based on combination of the PROESTATE AWARDS and the CRE FEDERAL AWARDS.

For more information on VEGAS LEX’s activity in Real Estate, Land & Construction, please click here.

The source of the photo: Russian Guild of Property Managers and Developers.