Turkey’s Renaissance buys half of Russia Tower

Turkish holding Renaissance Construction, general contractor of the Russia Tower at the Moscow City business center, has purchased 50% of the project, Kommersant reports.

The rest of the building belongs to Victor Rashnikov, co-owner of the Magnitogorsk Iron and Steel Works, and Nader Nader, his partner.

Construction of the Russia Tower was started by Shalva Chigirinsky’s Russian Land in 2007. He was planning to build the tallest building in Europe on the 18th section of Moscow City. The 612-m building was never constructed. The Russia Tower is one of the three uncompleted buildings of the complex. Moscow Mayor Sergey Sobyanin demanded completion of Moscow City by 2015.