Greater City has 1.04 million sq m of offices under construction outside the Moscow City business district, with completion scheduled by the end of 2030. MR Office and IBC Real Estate published the figures from their joint research in November. The buildings under construction account for an area equivalent to nearly half the existing office stock in the surrounding districts.
How much office space could the surrounding area gain?
This part of Greater City currently has 2.096 million sq m of office space. If projects already under construction finish on schedule, the stock would reach about 3.14 million sq m. Another 335,000 sq m is still in design. Completion of all projects in the study would take the total to 3.471 million sq m, about 66% above the current level.
About three quarters of the 1.375 million sq m pipeline is under construction, with the rest in design. The final figure depends on how quickly work progresses and when the projects still in design break ground.
How much will Moscow City itself add?
A further 522,000 sq m of offices is under construction within the Moscow City business district. Almost twice as much is being built outside it. If the projects in the study follow their announced schedules, combined office stock across Greater City and Moscow City could exceed 5.5 million sq m by 2030.
The forecast covers total office stock. Availability for sale or lease depends on when and how developers bring space to market. Our third-quarter report covers new offices already offered for sale as units and floors.
JOIS is one of the larger projects
The published findings name JOIS Business Centre in 3rd Silikatny Drive. The developer lists 82,100 sq m of office space across the two towers, MAST and CREDO. That is around 6% of the pipeline outside the Moscow City district scheduled to complete by the end of the decade. Other developments are listed in our Greater City office centre directory.
