Moscow International Business Center (Russian: Московский Международный Деловой Центр; ММДЦ), also referred to as Moscow-City (Russian: Москва-Сити) is a commercial district in central Moscow, Russia. Located near the Third Ring Road in Presnensky District of western Moscow, the Moscow-City area is currently under development.
The Moscow IBC is expected to become the first zone in Russia to combine business activity, living space and entertainment in one single development. The Moscow government first conceived the project in 1992. An estimated 250,000 – 300,000 people will be working, living, or visiting the complex at any given time.
In order to manage the project a public company CITY was created in 1992 which is responsible for overseeing the initial creation and development of Moscow City as well as its subsequent exploitation. CITY is also a general contractor and both landlord and lessor.
Overall responsibility for the architectural planning and design of Moscow City belongs to the architectural studio No. 6, which is a part of the large Moscow practice Mosproject-2 named after Mikhail Vasilyevich Posokhin. This group, headed by Gennadiy Lvovich Sirota, who is officially the Chief Architect of Moscow City, is in charge of overseeing the design of the complex as a whole and agreeing the details of individual projects. Each and every building lot has its own investor and architect.
The construction of the Moscow IBC is taking place on the Presnenskaya embankment of the Moscow River approximately 4 kilometers (2.5 mi) west of Red Square, and just east of the Third Ring Road. The project occupies an area of 60 hectares, the territory chosen being the only area in central Moscow that can accommodate such a project. Before construction began, the area represented an old stone quarry where most of the buildings were old factories and industrial complexes that had been closed or abandoned. The total cost of the project is estimated at $12 billion.
Moscow (// or //; Russian: Москва, tr. Moskva, IPA: [mɐˈskva] ( )) is the capital city and the most populous federal subject of Russia. The city is a major political, economic, cultural and scientific center in Russia and in Eurasia. According to Forbes 2013, Moscow has the largest community of billionaires in the world. Moscow is the northernmost megacity on Earth, the most populous city in Europe, and the 5th largest city proper in the world. It is the largest city in Russia, with a population, according to the 2010 Census, of 11,503,501. By its territorial expansion on July 1, 2012 southwest into the Moscow Oblast, the capital increased its area 2.5 times; from about 1,000 square kilometers (390 sq mi) up to 2,511 square kilometers (970 sq mi), and gained an additional population of 233,000 people.