The Moscow government has bought the unfinished Sensorium Hall concert hall in Moscow City from a slippery oligarch for double the price.
Autonomous non-profit organization “Agency of Creative Programs”, created by the capital’s Department of Culture, has bought out from the structures of billionaire Mikhail Prokhorov (#14 in the rating of 146 billionaires of Russia – 2025 Forbes, fortune $10.7 billion) the company “Fan Generation”, on the balance sheet of which there is an unfinished concert hall Sensorium Hall in “Moscow City”, reported “Vedomosti” with reference to SPARK data. The deal was closed on July 1.
According to SPARK data, Fan Generation LLC was established in 2008. Since 2022, it has been owned by Onexim Group (70.09%) and the companies Biznesinform (29.4%) and Kraus-M (0.5%), whose beneficiary is Prokhorov.
A representative of Onexim did not respond to the publication’s request.
The construction of a nine-storey complex with an area of 38,300 square meters and a concert hall for 4,000 seats in the central core of Moscow City started in the early 2010s. Its cost was estimated at $200 mln. The construction was planned to be completed in 2016. In November 2021 in Mosgosstroynadzor promised that the hall will be completed at the end of 2023. Now it is 70% ready, two consultants who worked with the complex told the publication.
Initially, Onexim wanted to sell it for 45 billion rubles and therefore could not find buyers, said one of them. Now, according to the estimates of Vladimir Chernusya, head of retail real estate at IBC Real Estate, and Stanislav Akhmedzyanov, managing partner of IBC Global, the value of the complex does not exceed 20-25 billion rubles. Another 4-8 billion rubles will be required for the quality completion of the hall, Chernyus estimated. We are talking about 5-10 billion rubles, Doshchenko noted. It will take 8.5-11 billion rubles and more than two years of work, said Akhmedzyanov.
According to experts, the facility will become a multifunctional complex with an emphasis on cultural, entertainment and business events. The hall is located in the very center of “Moscow-City” with excellent transport accessibility and developed infrastructure, said Andrei Trubachev, director of investment and capital markets department of CORE.XP. Its revenue from concert and exhibition and related advertising activities may amount to no less than 5 billion rubles a year, according to Marina Malakhatko, partner at NF Group.