In late September 2020, it was announced that VTB Bank would provide 30 billion rubles in financing over seven years to MR Group to continue construction of the high-tech iCity complex being built in Moscow City. Completion and commissioning are scheduled for 2023.
iCity is a Class A office center with a total floor area of nearly 250,000 square meters. Most of this space will be dedicated to offices of varying sizes and coworking spaces. The complex will consist of two towers connected by a common seven-story foundation. One, dubbed the Time Tower, will be 61 stories high, while the other, dubbed the Space Tower, will be 141 meters tall and have 34 floors. The stylobate portion of iCity will house a variety of infrastructure facilities, and its roof will be designated for a landscaped park.
The iCity project was developed by the renowned architectural firm JAHN Architecture, which designed several other Moscow-City towers. This project includes not only the construction of a large business center but also the reconstruction of Yermakova Roshcha Street. A circular traffic circle will be created around iCity itself, providing convenient access to the complex, and pedestrian crossings will be built for pedestrian convenience. Furthermore, iCity will be connected to Moscow-City and the metro and MCD stations located within it.
Overall, the Moscow-City business center is the largest project implemented in Russia in recent decades. It covers an area of 100 hectares, most of which is designated for new development.
