Analysts named the most profitable developers of "old" Moscow
The total revenue of the 10 most profitable developers reached 235.1 billion rubles in the third quarter of 2025, and 404 billion rubles for all developers within the historical borders of the capital, analysts at Metrium calculated. According to the materials reviewed by Izvestia on October 23, these figures increased by 11.1% and 17.1%, respectively.
regarding the third quarter of 2024.
In total, in the third quarter of this year, 15.2 thousand equity participation agreements were concluded with individuals in new buildings in "old" Moscow — excluding concessions and wholesale transactions — for 752.8 thousand square meters. m. Compared to the same period in 2024, the number of transactions increased by 16.9%, and the area sold increased by 10%.
PIK has been retaining the first place in the ranking of the most profitable developers for 10 years. 3285 equity participation agreements for 137.2 thousand square meters were signed in the developer's projects, which brought 55 billion rubles.
The second place in the ranking of the most successful developers was taken by the developer Mr. The company managed to conclude 1253DDU on 66.9 thousand square meters. m, which provided revenue in the amount of 32.1 billion rubles.
Donstroy closes the top three. In the projects of this developer, 671 equity participation agreements were concluded for 48.5 thousand square meters, which provided revenue in the amount of 33.3 billion rubles.
"The market of new buildings in old Moscow in the third quarter showed a positive trend in consumer activity against the background of a progressive reduction in the key interest rate," Artur Kuleshov, Acting Deputy General Director for Sales and Digital Marketing at MR. company, explained to Izvestia.
According to him, the cost of mortgage loans is still prohibitive. However, more and more clients can afford to apply for loans in the expectation of an early profitable refinancing.
In addition, as Kuleshov noted, installment and trade-in programs help clients update their living conditions, and business and premium class projects are becoming increasingly popular on the market. According to the expert, this is due to the gradual increase in real incomes of the population in the capital. Therefore, complexes from trusted developers who comply with construction deadlines and constantly improve the product are especially in demand.
"The position of the leading players in the market of new buildings in the "old" Moscow continues to remain as stable as possible, even taking into account difficult economic conditions. At the same time, against the background of the reduction of the "key" and the disclosure of deposits, their positions are strengthening. This is due to the financial stability of the capital's largest developers, reliability and significant supply volume," Ruslan Syrtsov, Managing director of Metrium, told Izvestia.
According to the expert, this is due to the financial stability of the capital's largest developers, reliability and significant supply volume. Syrtsov stressed that currently there are about five to seven more companies that are able to compete on equal terms with developers from the top 10, while the rest of the players are limited to narrower target niches and strive to take leading positions in certain market segments and areas of the metropolis.
Analysts at Whitewill and Baltschug Development, in an interview with Izvestia, reported that the price per square meter in the luxury real estate market averages 1.04 million rubles, and the area is 50 square meters. m. They also added that currently the demand for one—room apartments in this segment remains consistently high. According to experts, such lots are purchased both for personal use and for investment purposes — for rent, resale or as a family asset.
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