Economics of high-rise construction: The feasibility of skyscrapers building in the Russian cities

Abstract

The article considers the economic aspects of constructing high-rise buildings in the world and in Russia. Data on the number of high-rise buildings in Russian cities with a million population are presented. It is proved that interest in high-rise construction in Russia has been formed only in Moscow and partly in St. Petersburg and Yekaterinburg. The analysis showed that the reason for this is the expensiveness of high-rise construction. According to the enlarged macro-calculation, the cost of building 1 m2 of the area of the Federation Towers complex (Moscow City) is about 2710 $/m2. Practically a possibility of return on investments in the foreseeable time interval exists only in Moscow. For the regions of Russia this task is rather complicated. Population density in regional Russian cities is quite low, business entities do not have the necessary financial resources for investing in high-rise construction, and investments from abroad absent.