Shortlist Selected for International Financial Center Design

An international jury has selected eight consortiums to develop detailed architectural proposals for the construction of an international financial center in Rublyovo-Arkhangelskoye on Moscow's western edge.

The final shortlist for the project, which will cover a 460 hectare area owned by state-run Sberbank, was culled from a list of 83 bidders from 22 countries, Vedomosti reported. 85 percent of the bidding parties were foreign. The eight candidates will present their visions for the center by April. 1, 2014, after which three finalists will be announced.

The project, first conceived by then-president Dmitry Medvedev in 2008, envisages the building of 5.4 million square meters of real estate, hotels and other commercial and social infrastructure, including 1.9 million square meters of office space and 1.8 million square meters of housing.