As Russia enforces the revised road traffic regulations from the 1st of this month, the parking tower construction market is expected to get a green light.

The amendments are aimed at strengthening sanctions for various illegal vehicle operations, including parking violations, and will be accompanied by strong administrative measures such as license plate removal and vehicle detention.  

The main amendments to the Road Traffic Law include: ▲ A fine of 500 rubles (license plate removal) for driving a vehicle with inadequate visible light transmittance; ▲ A fine of 2. 000 rubles (previously 300 rubles) for parking in a tunnel or parking in a parking lot that causes obstruction of other vehicles' traffic, 000 roubles (previously 300 roubles) and vehicle detention ▲ For parking on tram tracks or on the primary lane of a road, a fine of 1,500 roubles and vehicle detention (previously 100 roubles or a warning) ▲ For violation of traffic signals or road signs indicating a prohibition on stopping a vehicle, a fine of 1, 500 roubles and vehicle detention (previously 300 roubles or a warning); ▲ a fine of 1,000 roubles and vehicle detention (previously 300 roubles or a warning) for stopping a vehicle 5 meters in front of a pedestrian crossing or crosswalk; ▲ a fine of 1,000 roubles and vehicle detention (previously 300 roubles or a warning) for stopping a vehicle at or within 15 meters of a stop dedicated to public transport, including buses, 000 rubles and vehicle detention (previously 100 rubles or a warning); 1,500 rubles (previously 500 rubles) for violating the law on the operation of residential vehicles; and 300 rubles (previously 100 rubles or a warning) for violating other parking laws.

 

With the crackdown on illegal parking at the federal level and the tightening of regulations, the shortage of parking spaces is expected to worsen in the near future. "Russia has a long cold season and not many parking spaces in the city center, so there is a high demand for parking towers, but the reason why no parking towers have been built so far is because there has been no strong government regulation on illegal parking," said the Vladivostok Trade Commissioner of the Embassy of Japan in Russia.

In fact, the city of Vladivostok has been promoting a parking tower construction project by manganese operators for several years, but it did not proceed due to problems such as site acquisition and profitability. However, this year, the city government has secured a budget of $3 million for the construction of a parking tower and is taking an active policy to solve parking problems.

"The city of Vladivostok wants to build a parking tower in consultation with private operators, but private operators are hesitant to make active investments due to low profitability," said the Korean Trade Commissioner. "It is time to consider how Korean companies can directly invest in the parking tower operation business through equipment investment." "Even if it is not a direct investment, if the quality is excellent and the price is competitive, it is also considered a valid export strategy to introduce Korean equipment to the implementing company from the city of Vladivostok," he added.