MOSCOW, February 19 (RIA Novosti) – Russian billionaire Roman Abramovich’s investment vehicle Millhouse LLC is to spend up to $500 million to build a business center on the edge of Moscow, the company has announced.
The new development, named Skolkovo-Park for Business, will comprise six office buildings designed to accommodate some 10,000 personnel, with parking for 2,900 cars.
“The investment in the project, including urban landscaping and improvement of adjacent infrastructure may total up to $500 million,” Millhouse’s development director Igor Pyatibratov said in a press release Tuesday.
The company said that the project would incorporate the highest ecological and energy-saving standards, and was expected to be completed in 2017.
Skolkovo-Park for Business is part of a larger development that also includes construction of a residential cluster, called Skolkovo-Park for Life, a large park and an 18-hole golf course.
Millhouse has already spent $400 million on residential development under the project, which would bring its total investment in Skolkovo-Park to $900 million.
