Moscow City (also known as Moscow International Business Center) is a 148-acre development in the Presnensky District of western Moscow (2.5 miles west of Red Square). Intended to be a financial district, Moscow City is the location of Mercury City Tower – Europe’s tallest building –  and Federation Tower East which, when finished, will rise to a height of 1,224 feet to become Europe’s new tallest building.

Moscow City’s office vacancy rate (including vacant sublease space) was 32 percent at the end of October and is projected to rise above 50 percent next year once new buildings deliver, according to The New York Times (citing research from Cushman & Wakefield). Office rents in the district average $6.90/sf/month, below the $7.75/sf average for Class A space elsewhere in the city. Fifty-eight percent of the tenants who have signed leases in Moscow City are non-financial companies and local small and midsize businesses, including a youth hostel which has leased space on the 43rd floor of a glass-and-steel tower for a bed and breakfast arrangement, according to the report.
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Moscow City – Photo: CTBUH

Last Updated on November 29, 2014 by Ramin Seddiq