Moscow catches up with Dubai in residential skyscraper construction

2024-05-21 // LuxePodium
Moscow has caught up with Dubai in the volume of residential skyscraper construction. The two cities are now building residential high-rises of approximately 6 million square meters each. This rapid growth in Moscow can be attributed to the demand for vertical living and the scarcity of available land. The rise of high-rise construction also meets the demand for a comprehensive living environment with amenities and infrastructure. However, not all new housing projects are tall buildings, as low-rise residential complexes are also being developed in certain areas.

Moscow continues to witness the construction of increasingly tall residential buildings. The city is now filled with towers, many of which house apartments rather than offices. This trend is supported by real estate agents and developers, who have noticed the shift towards high-rise living. According to the company "Aeon Development" and the real estate agency NF Dom, Moscow has caught up with Dubai in terms of the volume of high-rise housing construction. While the average apartment size in the United Arab Emirates is larger than in Moscow, the Russian capital offers a greater number of housing options.

One of the advantages of skyscrapers is the breathtaking views they offer, which people are willing to pay for. In the past, residential construction in Moscow rarely exceeded 25 floors. However, as of April 2024, the projected volumes of skyscrapers in Moscow and Dubai are almost equal. Dubai has 73 ongoing projects with 54,200 apartments, while Moscow has 54 complexes with approximately 93,000 planned units. Experts also acknowledge the demand for residential high-rises in Moscow due to the shortage of available land and the desire for a comprehensive living environment.

The number of floors in new Moscow buildings has increased over the past three years. The average number of floors now stands at 28.7, compared to 25.6 three years ago. The popularity of high-rise buildings can be attributed to the demand for a comprehensive living environment, including amenities, infrastructure, and architecture. The availability of panoramic views from high-rise apartments is also a major drawcard. The average price per square meter in Moscow's business-class skyscrapers is around 460,000 rubles, while in the premium segment, it reaches 800,000 rubles.

In conclusion, the construction of residential towers is a clear trend for the coming years. However, it is important to note that not all new housing projects are skyscrapers. In some areas, such as the New Moscow district, low-rise residential complexes with buildings of up to 9 floors are also being developed. Each project caters to the diverse demands and preferences of homebuyers.