Moscow’s real estate landscape is a paradox of old grandeur and bold modernisation. From Soviet-era monoliths to cutting-edge skyscrapers, the capital’s skyline tells a story of ambition, resilience, and transformation. In recent years, Moscow has become a battleground for both traditional property developers and high-growth real estate tech startups, driven by capital flows from private equity firms, family offices, and increasingly, hybrid investors with a taste for bricks-and-mortar backed digital platforms.

Despite global sanctions and geopolitical headwinds, Moscow’s real estate sector is still attracting significant local and regional investment. The city’s commercial real estate market remains robust, with logistics, residential, and mixed-use developments continuing to draw interest. Domestic capital is more dominant than ever, with major players doubling down on prime developments, proptech platforms, and redevelopment of urban districts like ZIL, Nagatino, and the ever-expanding Moscow City.

For developers and real estate entrepreneurs looking to secure funding, knowing who is active in the region is half the battle. Below is a hand-picked list of investors that are either headquartered in Moscow, maintain significant investments in the region, or have demonstrated an appetite for backing real estate projects – traditional or tech-enabled – in and around the capital.

• Capital Group – One of Moscow’s most prominent real estate investment and development firms, Capital Group has played a key role in shaping the city’s skyline. Known for major developments like the OKO Towers and the Neva Towers in Moscow City, their focus is on luxury residential and premium commercial real estate. The firm is chaired by Vladislav Doronin, who is also known for global real estate investments.
• Pioneer Group – A diversified investor and developer with a portfolio including residential and commercial projects. Notable projects include LIFE-Botanic Garden and LIFE-Varshavskaya. Pioneer has also shown interest in smart building technologies and urban redevelopment zones.
• PSN Group – A private investment firm with a long-standing presence in Moscow real estate. They are behind the famous I’M on Ostozhenka and Dominion Tower designed by Zaha Hadid. PSN also has holdings in rental residential and class A office buildings.
• Hals-Development – A subsidiary of VTB Group, Hals is a heavyweight in high-end real estate development. They have delivered landmark projects like Moscow’s Literator housing complex and the Four Winds Plaza business centre.
• Russian Building Company (RBC) – Known for massive urban redevelopment projects, especially in the Moscow region. RBC targets underutilised industrial zones for transformation into mixed-use residential and commercial spaces. Recently partnered with tech startup Domclick for integrated sales solutions.
• Leader Invest – Formerly part of AFK Sistema, this firm focuses on residential development in central Moscow. Leader Invest has been linked with developments like “Sreda” and has partnered with proptech firm Smartis on intelligent property management systems.
• KROST – Active in both real estate development and construction innovation, KROST backs prefabricated building tech and green construction. Projects include the Silver Fountain residential complex and several high-rise buildings in Mitino.
• Osnova Group – A diversified developer with interests in logistics, office, and residential real estate. They’ve recently ventured into the co-living space and have been investing in energy-efficient construction technologies.
• Etalon Group – Publicly listed and focused on large-scale residential and mixed-use projects. While originally focused on St. Petersburg, Etalon has ramped up activity in Moscow with developments like “Silver Fountain” and “Normandia”.
• Donstroy – Known for high-end residential complexes like “House on Mosfilmovskaya” and “Scarlet Sails”. Donstroy is vertically integrated and also acts as a private lender to smaller developers in the luxury segment.
• Ingrad – A fast-scaling developer investing in both business-class and mass-market housing. Ingrad is a portfolio company of Rossium Concern and recently invested in modular building platform BuildTech.
• Stone Hedge – Boutique investor focused on premium residential properties and business centres. Projects include “Wine House” and “The Book” on Novy Arbat. Known to co-invest with foreign private investors and family offices.
• KEY Capital – A private investment firm backing early-stage real estate technology ventures and boutique property developments. Recently provided seed capital for Yandex-backed rental marketplace Kvartirny Vopros.
• Sminex – High-end real estate developer and investor. They’ve funded and executed projects like “Club House Turgenev” and are active investors in wellness-oriented residential complexes.
• FSK Group – Among the top 5 developers in Russia, FSK has been active in acquiring distressed real estate assets in Moscow and repurposing them. Recently invested in green building standards and digital home management systems.
• Samolet Group – Listed on MOEX, Samolet has an aggressive pipeline of over 3 million m² in residential and suburban projects. They’ve also entered the digital real estate ecosystem with their own transaction and mortgage platform.
• Basel Group – A holding company with assets in metals and real estate. They’ve invested in large-scale infrastructure-backed real estate like Technopolis Moscow and suburban logistics parks.
• Arktika Capital – A boutique investment firm led by former Renaissance Capital executive Mikhail Dronov. Arktika is active in mixed-use and urban revitalisation projects in Moscow’s inner ring.
• NDV-Real Estate – While primarily a brokerage, NDV has increasingly taken equity stakes in co-living and senior living projects. Their recent joint venture with Habidom signals a shift towards long-term asset holding.
• DOM.RF – A state-owned financial institution that finances urban infrastructure and public housing projects. They’ve provided capital for PPP-based residential complexes and act as anchor investors in major public-private partnerships across Moscow.
• Moscow City Investment Agency – While technically not a private investor, the agency facilitates investments and often acts as a co-investment partner on public redevelopment initiatives. Vital contact for access to land tenders and development rights.

Moscow’s real estate ecosystem is also witnessing a quiet boom in proptech startups like Rentoor, BIM360 Russia, and MarketSpace, many of which are building products tailored to the peculiarities of the Russian market – from electronic registration of deals to AI-driven price benchmarking. These young firms are increasingly on the radar of hybrid real estate-tech investors, particularly those with backgrounds in construction automation and smart building management.

If you’re actively structuring a real estate investment deal in Moscow, it’s worth brushing up on local deal structures, secured lending instruments, and how to hedge political risk – especially in complex JV environments. Check out DealStructuring.com for in-depth insights into securing downside protection and building scalable equity stacks.

In a market where political dynamics shift fast, Moscow’s property investors are adapting just as quickly. The appetite is there – particularly for income-generating developments with tech-backed efficiencies. The next wave? Expect institutional investors to start partnering more with digital platforms that can underwrite and manage assets at scale. Moscow may be volatile, but it remains a magnet for serious capital with a long-term view.