In 1995, ENKA signed an investment agreement with several local partners, including the Municipality of Moscow, and established Moskva Krasnye Holmy (MKH) to develop the Russian Cultural Center. The center, comprising commercial, cultural and sporting facilities as well as office buildings on a seven-hectare plot of land, located on the eastern tip of the Kremlin Island bordered by the Moskva River and Vodootvodny Channel.

To date, MKH has completed a number of landmark buildings totaling 156,000 m², including 65,500 m² of premium rentable office space under the Riverside Towers brand. The company is now wholly owned by ENKA.

The complex also features the five-star hotel with 235 rooms, under the name Swissotel Krasnye Holmy. With its spectacular panoramic views, the hotel’s rooftop bar, City Space Bar & Restaurant, is regarded as one of the best bars in the world and has received World Travel Awards recognition.

Additionally, the Conference Center became a featured attraction from the moment it opened its doors and now hosts numerous conferences, seminars, and other events, catering to its prestigious clients.

The Russian Cultural Center transformed the former industrial district into a vibrant mixed-use destination, becoming a distinctive landmark on Moscow’s skyline.