Moscow

Future development
The "Moscow International Business Center" (Moscow-City) is a projected new part of central Moscow. Geographically situated in Presnensky District, located at the Third Ring, the Moscow-City area is under intense development. The goal of MIBC "Moscow-City" is to create a zone, the first in Russia, and in all of Eastern Europe, that will combine business activity, living space and entertainment. It will be a city within a city. The project was conceived by the Moscow government in 1992.
The construction of MIBC "Moscow-City" takes place on the Krasnopresnenskaya embankment. The whole project takes up 1 square kilometer (247 acres). This area is the only spot in downtown Moscow that can accommodate a project of this magnitude. Today, most of the buildings there are old factories and industrial complexes.
The Federation Tower, now being built is to be completed in 2016, will become the tallest building in Europe when completed.