Moscow, Russia 2009
September 14, 2009
Moscow International Business Center, informally referred to as Moscow-City. It is the most ambitious project in the new Moscow. Much of it is still under construction after beginning in the 90's although construction has stopped on major buildings due to the current economic crisis.
The Moscow IBC is expected to become the first zone in Russia to combine business activity, living space and entertainment in one single development. The Moscow government first conceived the project in 1992.
The entire project takes up 1 square kilometer, and the territory chosen is the only area in downtown Moscow that can accommodate such a project. Before construction began, most of the buildings in the area were old factories and industrial complexes that had been closed or abandoned. The total cost of the project is estimated at $12 billion.