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Developer Sezar Group, through its subsidiary Sezar Invest Group, acquired control of City Development, which owns plot 20 in the Moscow City business district. A multifunctional complex with a total area of 179,611 square meters is planned for construction on this plot. This asset was previously managed by entities associated with businessman Alisher Usmanov.
Details of the deal
According to the SPARK database, the deal was completed on October 14, 2024. City Development, the owner of the land plot, was transferred to Cesar Invest Group LLC, and the land plot's price was previously estimated at 34 billion rubles.
Sezar Group has been awarded the right to develop a project on a site slated for a 60-story skyscraper with a total floor area of 179,611 square meters. Of this area, 162,538 square meters will comprise the building's above-ground portion, of which 154,312 square meters will be rentable space. The building's underground portion will occupy 13,503 square meters. According to the approved design, the maximum height of the complex will be 228 meters.
Project characteristics
The site is planned for the construction of a multifunctional complex, which will include:
- 60 floors (including 56 above ground and 4 underground);
- The total area of the underground part will be 13,503 m²;
- The complex will include 608 parking spaces, which will improve transport accessibility and meet the needs of future tenants.
The complex is planned as a multifunctional space, primarily for office space (100,000 square meters of the total area). The building is expected to become one of the largest business facilities in Moscow City, capable of providing a wide range of services and business solutions.
Project history
The idea of building on this site was discussed back during the mayoralty of Yuri Luzhkov, who proposed addressing the lack of parking in Moscow City, even though business center construction in the area was actively promoted. Initially, the project was handled by Alisher Usmanov's USM Holding, but various factors delayed its implementation.
The project remained dormant for several years. In 2023, the site was put up for sale, with an asking price of 34 billion rubles. The listing even featured renderings of the future building, including a visualization of the skyscraper with "constellation" elements.
Prospects for implementation
Sezar Group's acquisition of the site inspires hope that the project, which has been stalled for over a decade, will finally be realized. The new owner can either continue with the existing plan or propose a new concept that meets current market demands. It's worth noting that Sezar Group has experience working in Moscow City, having already implemented the Moscow Towers complex there, and therefore the company will be well-positioned to successfully handle the challenges associated with the site's development.
Potential tenants and market impact
The new complex is expected to attract major tenants. Rumors previously circulated that Mail.ru Group, which was in negotiations to lease space in the new building, could be one of the main tenants. However, there is no confirmation yet regarding the outcome of these negotiations.
Sezar Group is actively strengthening its position in the Moscow real estate market, and the acquisition of a site in Moscow City will be a significant milestone in the company's development.
