Russians go 'green' in UAE first

A mammoth $3.5bn sustainable development project in the heart of the Russian capital of Moscow based on Japanese 'green' technology is to be unveiled in the Middle East next month.

For the first time ever a major Russian developer has decided to showcase a major project at Cityscape Abu Dhabi - the International Property and Investment Show - which takes place at the Abu Dhabi National Exhibition Centre from 13-15 May 2008.

The Metropol Group is to feature the huge 'city-within-a-city' Metropoliya project, a 1.5 million square metre mixed use development three kilometres from the Kremlin. Metropoliya will utilise cutting edge 'green' technologies developed by the world's top architectural practice and global leader in sustainable designs, Nikken Sekkei of Japan.

The focus of the Metropoliya project - grouped around ten buildings connected by green public spaces - will be sustainability and energy efficiency with a low carbon footprint. Using technologies tried and tested in Japan, Nikken Sekkei is aiming for a development that uses up to 60% less energy than equivalent projects.

Metropoliya will also be a pleasant city to walk around, even in Moscow's freezing winters, the developers say. The only Moscow project on such a scale, construction is slated to begin in 2009 and take seven to eight years to reach completion. Central to the project will be a signature 364 metre tall tower of strikingly simple design with smaller towers arranged in lotus flower pattern providing residential, office and commercial space.

'It is no accident that we have decided to showcase this important flagship project in the Middle East,' said Dr Mikhail Slipenchuk, Founder and CEO of the Metropol Group. 'With so many iconic and truly unique projects being realised here in the Middle East we took the view that the UAE is an ideal location for us to seek development and investment partners.

'Russia, too, is an attractive rising market for real estate development,' he added. 'The growth of Russian GDP and incomes, moderate inflation and the general stability of the Russian economy are major reasons for the increased interest of foreign investors in the real estate market, and in particular Moscow as the main business centre of the country.'

According to the Central Bank of the Russian Federation, the country's gold and currency reserves exceed $500bn - third only to China and Japan.

The Metropol Group was formed by the Russian multinational Investment Financial Company Metropol, a triple-A rated firm with $40bn of equity transactions and a leader in the Russian financial market. Metropol Development is one of the group's fastest growing real estate companies in Moscow with total projected and under construction real estate of approximately two million square metres.

Mitsuo Nakamura, President and CEO of Nikken Sekkei, said: 'Metropol is one the top developers in Moscow today and the Metropoliya project one of the most prestigious. We are proud that they have decided to feature our state-of-the-art technology. The greatest benefit is that sustainable designs can reduce energy consumption by up to 60%. They are no longer just concepts - this technology is accessible and cost-effective.'

Dr Fadi Jabri, General Manager and Nikken Sekkei's representative in UAE, said Cityscape Abu Dhabi is an ideal platform to present the Metropoliya project. 'This project represents a new generation of modern architecture in Russsia,' he added. 'In addition, the strong focus on sustainability and energy efficiency makes it a first of its kind in Moscow.'

Nikken Sekkei is a comprehensive consulting firm providing urban planning, architectural design and structural engineering, civil engineering and construction supervision services, as well as related surveying and consultations. It has been involved in over 20,000 projects in some 40 countries.