Arabtec Construction LLC Signs Contract to Build Europe’s Tallest Office Tower for Gazprom

In the Primorsky district of Saint Petersburg, Russia, the tallest office tower in Europe is set to be built as part of the Lakhta Center, a gigantic 3.5 million-square-foot mixed-use master-planned development.

Saint Petersburg—In the Primorsky district of Saint Petersburg, Russia, the tallest office tower in Europe is set to be built as part of the Lakhta Center, a gigantic 3.5 million-square-foot mixed-use master-planned development. In August, the Lakhta Center Land Use Plan passed public hearings and the permit to build the first stage of the construction was obtained following a positive conclusion from the State Expertise Authority.

OAO Gazprom has awarded the approximately $123 million contract to construct the first phase of the project, which will feature the 1,519-foot high office tower, to Arabtec Construction LLC, the largest United Arab Emirates construction company by market value. The 85-story high tower will serve as the headquarters of Gazprom and Gazpromneft, Russia’s natural-gas exporter and oil arm.

Hasan Abdulla, the managing director of Arabtec Holding PJSC said: “We are pleased to announce this award and we expect more projects to be awarded in the promising Russian Market. Russia has been set as a target market in the overall policy of Arabtec expansion worldwide and it seems our persistent efforts have started to pay dividend.”

The master-planned development will also feature a scientific and research complex, an educational center for children, a planetarium, a conference hall, numerous dining and shopping venues, a medical center with a pediatric unit and a modern sports complex. Around one third of the total 3.5 million-square-foot development site is expected to be occupied by green areas and public and cultural facilities such as a public piazza, an amphitheater overlooking the Gulf of Finland and various art galleries. The development will also feature an observation deck offering unique views of Saint Petersburg.

A covered pedestrian bridge along the Gulf of Finland will link the Lakhta Center and the Park of the Tercentenary of Saint Petersburg. The project is expected to create over eight thousand new jobs and Hasan Abdulla is expecting it to be finalized in about five years.