Domexpo, Russia’s largest and most important real estate expo begins October 6. Last year’s event drew over 200 companies and investors from forty countries looking for commercial and residential properties in Moscow, Saint Petersburg and Sochi, as well as banks like HSBC and SGE looking to finance the deals.
And while inbound investment represents the majority of business conducted at Domexpo, more foreign countries have been sending delegations in recent years to court Russian investors. This year, the 25th anniversary of the event, Argentina joins the mix and takes center stage at the International Pavilion.
“Friends from Argentina, Welcome to Russia! Here you don’t need a visa!” declares the banner on the Spanish-language section of the Domexpo website. The smart marketing strategy touts an immediate advantage of Russia over the U.S. in terms of ease of travel abroad for Argentines and South Americans in general. The clever tagline got the attention of Argentine businessman Carlos Manuelides who is going to Domexpo to court Russian investors.
“Moscow now has more millionaires than New York,” Maneulides tells El Periodico, “which makes countries like Russia and China very attractive for capturing foreign investors.” Argentines will also bump into more billionaires at Domexpo, as Moscow now leads that ranking as well. According to IBT, “the highest growth in billionaires (is) from the BRIC nations (which) together produced a total of 108 billionaires in the last year alone owing to their rapidly growing economies.” (Domexpo site in Spanish)
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