ART DE LEX lawyers arrange a rental rate for a historic Moscow property of RUB 1 per square meter per year

In September 2014, ART DE LEX lawyers were the first law firm to have arranged a reduced rental rate of RUB 1 per square meter per year for 49 years for a tenant who had restored a property that the Moscow government had designated in 1996 as a “cultural heritage site of federal importance.”

In 2012, the Moscow government started a program to reduce the annual rental rate to a token amount for tenants who had restored dilapidated historic properties. The initiative mimicked such programs already in place elsewhere in Europe. Later, the Moscow government extended the program to qualified tenants who had obtained leases before January 2012 on historic sites in poor condition.

For more information about this program, see the ART DE LEX client bulletin posted here.