MOSCOW-Although London, Paris and Frankfurt remain the top threeEuropean cities to do business in, Moscow has been named the mostfavorable city in Europe for companies looking to expand, accordingto a survey by Cushman & Wakefield.

“Strong GDP growth and large scope for increased consumerspending make (Moscow) an important driver for future companygrowth, and its oil and gas sector retains its allure. Thisupcoming demand is not yet priced into the market so there remainsa small window of opportunity for occupiers to secure their currentand future requirements at reasonable rates,” said C&W Russiahead Tim Millard.

London is ranked the number one in six of the 12 major rankingsincluding access to markets, availability of qualified staff andinternational and internal transport links. It scores poorly,however, on the cost of staff, the cost of office space and levelsof pollution. “Ultimately (London) is a city that has hugecultural, geographic and language advantages, although it must workhard to ensure that businesses are attracted by government policyand not over-regulated or taxed away," said Cushman's JamesYoung.