The Russian government has ordered Russian Railways to sell the 62-story Moscow Towers complex to reduce part of its debt, which has reached $50 billion. According to Reuters, the sale of the asset is a necessary measure to avoid a critical increase in freight tariffs amid a slowing economy and high interest rates, writes UNN.
Details
Sources report that the minimum sale price should be 193.1 billion rubles ($2.42 billion) – this is the amount for which the building was purchased in 2024. Russian Railways, which is Russia's largest employer, has faced a significant shortage of funds due to the increased cost of servicing loans. Previously, the company planned to move its head office there, but now the government considers the sale option a priority for stabilizing the monopoly's financial condition.
Finding a buyer amid the crisis
Analysts doubt the quick sale of the object, as the growth rate of the Russian economy this year has fallen to 1%. In addition to selling real estate, the government is discussing converting railway debts into shares and providing additional state subsidies, but the banking sector, in particular VTB, is still rejecting proposals for restructuring 400 billion rubles of debt.
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