Woods Bagot has won the prized deal to masterplan the rebuilding of the Rossiya Hotel on the edge of Moscow’s Red Square.

The practice beat KPF and Swanke Hayden Connell following interviews with the Moscow city government last week.

The scheme had previously hit the buffers when a masterplan for the £500 million scheme drawn up by Foster & Partners was shelved after the developer ran into problems with its financing.

This latest masterplan will involve building four five-star hotels, along with hundreds of high-class apartments and a concert hall.

Built in 1967, the Rossiya Hotel was torn down three years ago with building work due to have started later that year.

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