Billionaire Ruben Grigoryan has decided to divest his largest Moscow asset, the Nikolskaya Plaza shopping center, which carries a stated value of 23 billion rubles. The decision follows a period of careful evaluation of high‑value commercial properties in the city, with Grigoryan aiming to realign his portfolio toward other strategic opportunities that fit his broader investment strategy. A reliable source on a Telegram channel reports this move, signaling a notable shift in Moscow’s commercial real estate landscape.
According to the channel, the anticipated buyer will acquire a seven‑story property spanning a substantial 36,000 square meters. The site’s pedigree includes proximity to the Kremlin and a convenient 200‑meter distance to an underground car park, features that contribute to its high attractiveness for mixed‑use development. The material also notes the existence of the historic Sheremetevsky courtyard, which previously housed the shopping center before the controversial Nikolskaya Plaza project, where the historic facade survived the demolition that took place in 2001 amid public scrutiny and debates about preservation versus modernization.
Once the deal closes, Grigoryan’s asset will transition into a new chapter. The building’s future owner is expected to keep the architectural footprint intact while repurposing the space in line with market demand. Meanwhile, Grigoryan’s remaining holdings include a five‑star hotel in the same Nikolskaya area, the Regis Moscow, alongside the Olympic Plaza on Mira Boulevard and a variety of elite residential complexes in central Moscow. These assets reflect a calculated approach to maintaining a footprint in premium locations while pursuing diversification across hospitality and high‑end housing segments.
In a broader financial context, mid‑September reports surfaced that several Russian billionaires were transferring approximately $50 billion from Western financial systems to Russia, a movement framed by ongoing sanctions pressure from Western governments. Bloomberg data cited by the reports indicates that these funds represent the cumulative total that has moved from Western jurisdictions to Russia since February 2022—a trend watched closely by investors and market observers seeking to gauge how sanctions influence liquidity, asset pricing, and risk appetite among Russian tycoons and their international counterparts.
Additionally, the same day highlighted notable market movements among global tech leaders, with Elon Musk reported to have experienced a substantial personal decline in wealth, estimated at around $16 billion. This figure, while reflecting a single day’s fluctuation, underscores the volatility that can accompany high‑profile holdings and the interconnected nature of technology, finance, and geopolitical developments across major markets in North America and beyond.