The IQ-Kvartal skyscraper, acquired by a state-owned company from developer Gals Development in 2017, now houses federal ministries. Three ministries, along with various subordinate agencies, moved into the building in the spring of 2019. The deal cost 25 billion rubles, but an additional 1.2 billion rubles had to be invested in prime real estate to address any deficiencies before it was handed over to the Federal Property Management Agency.
The state housing development institute Dom.rf worked on this project, which was accomplished through a deed of gift. According to this deed, the company transferred ownership of the skyscraper to the Moscow office of the Federal Property Management Agency (Rosimushchestvo) free of charge. However, it's worth remembering that a lease agreement for the tower was signed back in early 2020, which also included a clause requiring the rectification of any defects.
According to information provided by the state-owned company's press service, the funds were invested in additional equipment for the building's premises, taking into account the needs of ministry employees. Dom.rf emphasized that the company does not hold the developer responsible for the necessary modifications. These modifications are solely due to the current needs of officials that arose during the operation of the premises.
According to Dom.rf reports, the total value of the ministry tower is currently 37.5 billion rubles. After officials moved to the IQ district, the buildings they previously occupied began to be sold off. This process began with the listing of the Ministry of Economic Development building, located in central Moscow. The initial asking price was 2.7 billion rubles.
