between construction and sale as the value of the rouble fell. The company rapidly amassed wealth and made a name for itself as one of St Petersburg's largest developers, eventually building Petrovsky Fort, a 540,000-square-foot complex that became the standard for business centers in the former capital. Polonsky opened an office in Moscow in 2000, after graduating from St. Petersburg State University of Architecture and Civil Engineering. Two years later, Mayor Luzkhov appointed him as an adviser. Polonsky was not yet 30. Mirax Group In 2004, the Moscow branch of Stroymontazh was renamed "Mirax Group" and in 2006, split from Stroymontazh, the St Petersburg branch, with Polonsky at the head of Mirax and Kirilenko at the head of Stroymontazh. Both men maintained 10% ownership of the other's company until 2009 when they each sold their respective stakes. Mirax carried out projects in Russia, Ukraine, Turkey, Cambodia and the United States. At its peak in the late 2000s, Mirax Group's assets amounted to more than 12 million square meters of real estate, with 2008 revenues estimated at $1.65 billion and net profits of $616.4 million. Some notable projects are outlined below. Moscow's Federation Tower Identified as Moscow's first skyscraper, the Federation Tower is recognized as the tallest building in Europe. The building consists of two towers, the taller one with 93 floors and a height of 1,161 feet, and the other with 63 floors. The towers have 4.5 million square feet of high-end office space, luxury apartments, shops, restaurants, and a 44-story Grand Hyatt hotel. A spire was to be also built which would have extended the complex's height to 450 meters (1,476 feet) as well as provided an observation deck, but it was never completed and was dismantled afterward. In 2009, The Federation Tower won the FIABCI World Prix d’Excellence Award (Office Category Winner). Construction of the project stalled in 2008 as a result of the financial crisis; however, it was resumed in August 2011 and completed in 2017. Korona residential property Korona was a Moscow landmark project, aiming to reflect state-of-the-art achievements in architecture, planning, construction technologies, and landscaping. The ceremony of laying the first stone in the foundation of the Korona Project intended to demonstrate a "new, unusual, vigorous and assertive style" of the young businessmen from St. Petersburg. Golden Keys Golden Keys 2 Residential Property was the 2nd project implemented by Polonsky's team. Polonsky suggested a comfortable