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Russia Tower Site To Become Car Park

Word has come out that the planned 600 metre plus tower to stand in Moscow, the Russia Tower, has been officially junked with the site now inauspiciously set to be transformed into a car park making it one of the most notable victims of the current global recession.

Developer Russia Land was expected to begin construction of the tower earlier this year but has struggled to raise the $2 billion in financing that it requires thanks to the relative weakness of the Russian economy compared to China and India.

Russia Land had approached leading rival Mirax to try and secure their participation in the venture, or alternatively sell it on to them however this also failed.

So desperate were Russia Land to try and build something, anything, that they even did a feasibility study into whether it would be possible to construct the tower at a third of its originally approved height - a mere 200 metres. This has also failed.

With the conversion of the site into a car park it now seems likely that the Norman Foster designed pyramidal supertall will never see the light of day, although mothballing the plot in such a way does make it a prime piece of under utilised real estate suitable for future development once the Russian economy has started to recover.
The Russia Tower, Moscow
The Russia Tower, Moscow