In March 2026, the developer MR Group announced the launch of a closed-end mutual investment fund (ZPIF), the core asset of which will be the construction of the skyscraper One Tower in the business district “Moscow City”. This is one of the most ambitious projects of modern Moscow high-rise architecture.
According to the developer, the tower with a height of about 379 meters and 90 floors will become the key asset of the fund. The projected revenue of the project is estimated at approximately 229.6 billion rubles, and the expected profit is more than 40 billion rubles.
More than 7.6 million units are предусмотрено for investors, which effectively opens the opportunity to participate in the project to a wide range of private and institutional investors.
What is a ZPIF and why developers need it
A closed-end mutual investment fund (ZPIF) is a financial instrument of collective investments through which investors invest in a specific asset or project.
In this case, the asset of the fund is the construction of the One Tower skyscraper.
The scheme works as follows:
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The management company creates a fund.
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Investors buy units of the fund.
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The money is directed to the construction of the project.
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After the sale of the real estate, the profit is distributed among the unit holders.
According to market estimates, such funds can provide about 17–18% annually, since investors receive a share of the profit from the sale of the project’s real estate.
This model is actively used in development because it allows:
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to attract capital without bank loans,
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to share risks between investors,
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to accelerate the implementation of large projects.
What the One Tower skyscraper represents
The One Tower project is one of the most discussed skyscrapers of “Moscow City”.
Initially it was planned to build a tower with a height of 444 meters, however later the project was redesigned and reduced to approximately 379 meters.
The updated concept includes:
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about 90 floors,
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two vertical oval-shaped towers,
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a glass bridge between the towers at the level of the 83rd floor,
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a total area of about 300 thousand m²,
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residential, office and commercial spaces.
The architectural idea of the project is inspired by the shape of a Möbius ribbon, symbolizing infinity and continuity of space.
Project history: from long-term construction to a new concept
The history of One Tower began back in the late 2010s.
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initially construction started in 2019,
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the project was stopped in 2020 at the excavation stage,
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in 2023 MR Group acquired the site and the project,
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in 2025 a new architectural concept was presented.
Thus, the launch of the investment fund actually means the transition of the project to an active investment phase.
Why this project is important for “Moscow City”
Today the business district is experiencing an acute shortage of office space, while demand continues to grow.
Until the 2030s several new towers are planned to be built in “Moscow City”, including:
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One Tower
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Top Tower
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Sezar Tower
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AURUS Residences.
However, even taking these projects into account, experts believe that the shortage of offices and premium real estate will remain.
In this context, One Tower can play several roles at once:
1. Architectural dominant
The tower will become one of the tallest in Moscow.
2. A new investment instrument
Private investors will be able to invest in the project through the ZPIF.
3. Expansion of the “Moscow City” infrastructure
The skyscraper will add new residential, office and commercial spaces.
MR Group strategy
The company MR Group is one of the largest developers in Russia and implements projects with a total area of more than 4.5 million m² of real estate.
In recent years the developer has been actively developing several направления:
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premium housing,
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high-rise projects,
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office clusters,
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investment products for private investors.
The launch of the ZPIF for One Tower shows a new trend:
developers are turning large projects into investment platforms.
What this means for the real estate market
The creation of a fund around One Tower is not just financing of construction.
In fact, it is a new development model where:
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the skyscraper becomes an investment asset,
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investors gain access to the profitability of development projects,
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the developer reduces debt burden.
If the model proves successful, similar funds may appear around other large projects of “Moscow City” and Moscow as a whole.
The launch of the investment fund for the construction of One Tower is an important step both for MR Group and for the entire Moscow real estate market.
The project combines:
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an architectural megaproject,
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an investment instrument,
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development of the “Moscow City” business district.
In fact, One Tower may become not only a new architectural dominant of the capital, but also an example of how large development projects are turning into investment ecosystems.
Related materials:
The general contractor for the construction of the One skyscraper in Moscow City has been determined
