The Metropol Group, a major Russian developer will unveil a mammoth $3.5 billion sustainable development project being built in Moscow at the upcoming Cityscape expo in Abu Dhabi.

Based on cutting edge Japanese 'green' technology the 'city-within-a-city' Metropoliya project features a 1.5 million sq m mixed use development about seven kilometres from the Kremlin.

Metropoliya will utilise the latest 'green' technology available by the world’s top architectural practice and global leader in sustainable designs, Nikken Sekkei of Japan at the Cityscape Abu Dhabi, which runs from May 13 to 15, said a top Metropol official.

'The focus of the Metropoliya project – grouped around ten buildings connected by green public spaces - will be sustainability and energy efficiency with a low carbon footprint,' Dr Mikhail Slipenchuk, founder and CEO of the Metropol Group said.

'Using technologies tried and tested in Japan, Nikken Sekkei is aiming for a development that uses up to 60 per cent less energy than equivalent projects.'

'Metropoliya will also be a pleasant city to walk around, even in Moscow's freezing winters. The only Moscow project on such a scale, construction is slated to begin in 2009 and take seven to eight years to reach completion,' he added.

Central to the project will be a signature 364 metre tall tower of strikingly simple design with smaller towers arranged in lotus flower pattern providing residential, office and commercial space.

“It is no accident that we have decided to showcase this important flagship project in the Middle East,' said Dr Slipenchuk.

'With so many iconic and truly unique projects being realised here in the Middle East we took the view that the UAE is an ideal location for us to seek development and investment partners,' he explained.

'Russia, too, is an attractive rising market for real estate development,' he added. 'The growth of Russian GDP and incomes, moderate inflation and the general stability of the Russian economy are major reasons for the increased interest of foreign investors in the real estate market, and in particular Moscow as the main business centre of the country.'

According to the Central Bank of the Russian Federation, the country's gold and currency reserves exceed $500 billion – third only to China and Japan.

The Metropol Group was formed by the Russian multinational Investment Financial Company Metropol, a triple-A rated firm with $40 billion of equity transactions and a leader in the Russian financial market.

Metropol Development is one of the group’s fastest growing real estate companies in Moscow with total projected and under construction real estate of approximately two million square metres.

Mitsuo Nakamura, president and CEO of Nikken Sekkei said Metropol was one of the top developers in Moscow today and the Metropoliya project one of the most prestigious and a first of its kind.

'It represents a new generation of modern architecture in Russia. Our proven technology which is both accessible and cost-effective can reduce energy consumption by up to 60 per cent.'

'This is vital when one considers the dramatic contrast in average temperatures in Moscow, which can range from minus 9 degrees centigrade in the winter and rise to over 23 degrees centigrade in the summer,” he added.-TradeArabia News Service