Development of the Smart City Concept in Sustainable Economy

Abstract

The foundation of the new social structure of Russian State must be satisfaction of prioritized needs of Russian citizens that will enable moving into a higher level of development and increasing the number of people who carry out creative innovative activities. We suggest in that respect that, at the federal level, it is necessary to design and implement the unified concept and methodology of the real estate market management, including that subject to social and economic conditions of Russian constituent entities as well as the investment activities level. The authors carried out economic and mathematical modeling of the development of the Smart City concept. This will allow to substantiate a new theoretical approach to assessing The effectiveness of the implementation of Smart City projects. It is conclusion that with the development of new technologies, there is no unified approach to the process of urban area efficient management. Implementation of the Smart City concept is related to improving the efficiency of functioning (power efficiency) of certain buildings, infrastructure items, some city districts, and the city as a whole.