LSR Group wins Moscow redevelopment

Contractor LSR Group has been awarded a contract to redevelop a derelict industrial zone in Russia’s capital, Moscow, building a new 1.57 million m² residential district.

The company won the tender to regenerate the Zil industrial area – a contract reported to be worth RUB28 billion (€568 million).

LSR Group said the project would include construction of 584,000m² of housing, 365,000m² of apartments, 167,000m² of offices, 98,000m² of commercial areas and 342,000m² of underground parking. Construction is planned to be completed by the end of 2022.

Aleksandr Vakhmistrov, LSR Group CEO and chairman, said the redevelopment was the largest construction project in Moscow for the last 20 to 30 years.

“Our integrated approach allows us to create a completely new standard of living in Moscow by offering modern social and public infrastructure, a favourable location only 5km from the Kremlin and good transport accessibility – it all makes the project very attractive both for living and working.”