‘The current construction of Yekaterinburg’s future Academic district is definitely going to have an impact on the city’s housing market as a whole, since a lot of new, good quality dwellings will be put up,’ says Ural Chamber of Real Estate’s CEO Rustem Galeev.

‘As far as I know, about 150,000 square meters worth of housing will be completed in Academic next year, while the amount of the entire city’s new housing expected in 2009 comes to about 1 million square meters altogether. This means Academic will provide 10% to 15% of the city’s new apartments,’ he notes.