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Russian Railways (RZD) has completed a major deal to purchase a significant portion of the Moscow Towers skyscraper in the Moscow City business district, namely 350,000 square meters out of a total area of 411,000 square meters, which is more than 85% of the entire tower.
This move marked a significant milestone in the company's plans to establish a new headquarters. Initially, the plan was to lease office space in the complex, but the decision was made to purchase it to avoid long-term rental costs.
Russian Railways plans to finance the purchase of the skyscraper over 20 years using proceeds from the sale of other buildings and assets. This will allow the company to realize economic benefits of approximately 270 billion rubles without relying on tariffs. According to Russian Railways representatives, the new unified office center in Moscow Towers, with its modern open layout, will provide comfortable workspace for the holding company's 17,000 employees, reducing operating costs for office property maintenance and increasing its efficiency by 20%.
Moscow Towers is a modern multifunctional complex comprising two towers connected by walkways, with a total floor area of over 410,000 square meters. Of this, 260,000 square meters are designated for office space. The building's architecture features unique solutions, such as a transparent façade rising 200 meters and recreation areas between the towers. The complex is also equipped with cutting-edge engineering and energy-saving technologies, making it one of the most modern buildings in Moscow.
Thanks to these characteristics, the acquisition of the skyscraper not only satisfies Russian Railways' needs for modern office space but also highlights the company's strategic development in the ever-changing conditions of the capital's business market.
Source of funding, terms and purchase price
Russian Railways acquired the Moscow Towers skyscraper in Moscow City for 193.1 billion rubles with a 20-year payment plan, the first of which is due in 2025. The deal is planned to be financed through the sale of vacated buildings following relocation, the sale of RZD-Real Estate LLC, VAT reimbursement, office rental income from controlled organizations, and the sale of non-core assets.
The contract for the purchase of 359,800 square meters was signed in July 2024, with VEB.RF acting as the deal organizer. Russian Railways had previously considered leasing the space, but after abandoning plans to build its headquarters at the Rizhsky Freight Yard in Moscow due to changes in the real estate market, it decided to acquire the complex. Experts valued the property at up to 227 billion rubles.
