Until recently, no buildings in Moscow surpassed the 240-meter Moscow State University—the tallest of the city’s “Seven Sisters” towers built at sites throughout the city during Stalin’s era. But a few years ago, Russia’s new wealth from natural resources started an upward rush. Before the global economic crisis hit, plans were moving forward for 4.6 million sq m of high-rise development by 2012. But with only two buildings complete and 11 under way, developers are raising eyebrows by putting some jobs on hold. Still, Moscow remains Europe’s high-rise hot spot. Slide Show Photo: Turner Construction Moscow City, with 14 towers
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.