4 of Europe's 5 tallest buildings are Half Empty....and they are all in one city! Would you laugh if I told you they are still building more and more
at the same site?
Guess where they are! It's not an easy game as the Global economy slows with some EU nations facing the dreaded Deflation monster that the 1%
Berlin? Sorry, Germany is doing ok and they don't have the tallest buildings.
London? Well the Shard in London is the second tallest in Europe but alas no, they are doing ok as well.
You're going to have to look much farther East for the answer!
You might be surprised to hear that Moscow has 4 of the 5 tallest buildings in Europe, but it's new development at Moskva City complex is big and
That is one heck of a beautiful and massive development! Too bad it is half empty! What happened?
Well you start with the deep rooted Russian mentality that bigger is better, add in barrel fulls of Oil money and top it off with a autocrats desire
to become the financial capital of the World. Voila! The largest buildings in Europe! Suddenly you take away the barrel fulls of Oil money combined
with a world that doesn't like your annexing neighbors territory and you end up with 1/2 full buildings.
12 Billion dollars so far and they aren't finished! 6 more large buildings will be finished this year, two more in 2016. At some point sane business
people stop throwing money at projects, however when it's not coming from your back pocket and it's citizens money the tolerance level for failure
seems much higher.
Russians have a long and storied history with massive building projects. Even a summary would be too long to start. Suffice it to say if the leader
thinks something is a good idea then it gets built. Bigger than anywhere else of course!
Things aren't all a disaster however! London's Cannary Wharf looked to be a massive failure at first. The projects sheer size required more patience
for the space to fill up. Now it's a vibrant part of London. Possibly Moskva City will recover and be a huge success. But it could also be yet another
failed Russian project, the Olympic Games at Sochi.
Yet another chapter in the story of Russia no matter what the ending is....
edit on 23-2-2015 by noeltrotsky because: (no reason given)