Construction & real estate
A country still building its skyline
From the tallest tower in Europe to new resorts on the Black Sea and logistics hubs along new trade routes - the construction cycle in Russia is long, and it is far from finished.
Market
Real estate in numbers
- Moscow housing
- ₽303Kper m², existing housing in MoscowSource: IRN.RU, Aug 2026
- Prime offices
- $746per m² a year, Moscow class A inside the Third RingSource: Nikoliers, Q1 2026
- Offices
- 7.6%Moscow office vacancySource: IBC Real Estate, Q2 2026
- Warehouses
- ₽9,500per m² per year, class A warehouses, Moscow regionSource: IBC Real Estate, Q2 2026
- Population
- 146Mpeople, 75% urbanSource: Rosstat, 2025
- Consumer market
- ₽61Tretail trade turnoverSource: Rosstat, 2025
Segments
Where construction capital goes
- 01Housing
Residential development
Project finance with escrow accounts protects buyers and gives developers access to bank funding. Demand is concentrated in the largest cities.
- 02Offices
Prime offices in Moscow
Class A rents inside the Third Ring Road reached about ₽62,800 per m² a year, after foreign tenants were replaced by domestic companies.
- 03Logistics
Warehouses and fulfilment
E-commerce growth and new trade routes to the East and South sustain demand for class A space.
- 04Tourism
Hotels and resorts
Domestic tourism is booming, from Sochi to Altai, Kamchatka and Lake Baikal. Quality hotel supply lags demand.
- 05Infrastructure
Concessions and PPP
Roads, utilities, social infrastructure and airports are built under concession and public-private partnership agreements.
- 06Industrial
Factories and industrial parks
Special economic zones and industrial parks offer ready plots with utilities and tax benefits.
Case in point
Moscow keeps rising
Moscow is one of the largest cities in Europe and continues to invest heavily in transport, public space and housing renovation.
For investors this means a deep, liquid market with long-term demand drivers - and competition that rewards local knowledge.
Discuss a construction project
Developer, co-investor or buyer - tell us your role and we will map the opportunity.