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. Last Updated: 07/27/2016

Roman Abramovich's Millhouse Plans $500M Skolkovo Business Park

Roman Abramovich's company Millhouse will spend $500 million building a 10.6 hectare business park in Skolkovo on Moscow's eastern edge, the company said.

The project is part of Millhouse's Skolkovo Park project, which has been under development since 2002, when the company bought 90 hectares in the Skolkovo region, Vedomosti reported.

In 2006, Abramovich handed 26 hectares over to the Skolkovo business school, which has grown up alongside the Skolkovo Innovation Center sponsored by Prime Minister Dmitry Medvedev during his term as president from 2008 to 2012.

The first phase of the business park's construction on the intersection of the Skolkovskoye highway and the Moscow Ring Road has already begun, Millhouse said. Six office buildings capable of housing 10,000 workers will be erected in this stage, with a further three office blocks planned later. In total, 88,000 square meters of space will be built, with completion set for 2017.

The head architect for the project is Darren Komber, chief of British bureau Scott Brownrigg, which designed Google's London offices.

Millhouse has invested in total more than $1 billion in Skolkovo Park, which includes residential buildings and a golf course, said the company's head of development, Igor Pyatibratov.