Moscow region authorities are now accepting proposals for skyscraper clusters in the style of Moscow City in the Odintsovsky, Krasnogorsk, Zhelezynodorozny and Kotelniki districts, Kommersant reported Monday. Sixty hectares will be made available for development in Odintsovsky district, 15 hectares in Krasnogorsk, 10 hectares in Zhelezynodorozny, and 10 hectares in Kotelniki.
Three developers, Zhilischny Kapital, Glubina and international firm Cushman and Wakefield, have made proposals for the Odintsovsky site.
Zhilischny Kapital is ready to invest $1.07 billion to develop 502,000 square meters of housing and 252,000 square meters of office space in the Odintsovsky district. The company expects a 5.4 percent return on investment.
Glubina has not yet announced the size of its investment but proposes to build 358,700 square meters in Odintsovsky, broken down into 125,190 square meters for office space, 117,200 square meters of residential property and 16,300 square meters for rentable apartments.
Torgovy Kapital has also expressed interest in the Zhelezynodorozny location, and is prepared to invest $100 million in building a 50,000 square meter office and retail facility.
Moscow regional authorities have not yet selected any proposal.
The Zhilishchny Kapital project in Odintsovo appears to be too ambitious in size, said Anna Danchenok, a consultant with NAI Becar, Arendator.ru reported. Moreover, "in terms of competition, the location looses out to Myakinino, which will be completed sooner, and which already has a metro and associated infrastructure," she added.
Moscow authorities hope that these developments will answer the demand for more office space in suburban Moscow and reduce commuter strain on roads and public transport.
Despite expectations, Moscow City has only intensified transportation problems. The mayor's office was compelled to allocate an additional 100 billion rubles to fix the problem.