Positive outlook for Russian construction

The outlook for the Russian construction sector, as for the entire Russian economy, is positive in 2004, according to Szymon Jungiewicz, an analyst with PMR Publications.
Moreover, the comprehensive analysis of the construction sector in five dynamically developing Central and Eastern European countries (Russia, the Czech Republic, Slovakia, Hungary and Poland) contained in the latest report by PMR Publications suggests that the country with the strongest construction and assembly output growth is indeed Russia, where the growth observed in recent years has the potential to continue. Russia has a very large potential market for non-residential construction; in many large cities there is a lack of office, warehouse and commercial space. Although residential building statistics are not negative, Russian flats are in poor condition, most of them requiring renovation. The outlook for the renovation segment in both residential construction and civil engineering is positive.