Project Management Institute

Russia's School Boomlet

Billionaires Are Backing Construction Of Massive New Private Schools

Russia's national academic rankings have been lagging of late. So some of the country's billionaires are stepping in to sponsor big, new private school projects. Since 2014, more than 30 billionaires and senior executives have founded or helped fund 135 private school projects in Russia, according to Bloomberg. The billionaire-funded Horoshkola project, for instance, which opened in September, features a four-floor open atrium, a dance studio, and areas for robot sciences and other state-of-the art technology.

But The Letovo School stands apart. The US$200 million project at the edge of Moscow, slated for completion in September, features dormitories, a dedicated wing for arts and music, and an artificial lake. There's also a wide array of sports facilities, including tennis courts, a running track and a football field. “There's no other project like it in Russia,” Valentin Shchukin, founder of a company that helps place Russian students abroad, told Bloomberg. Those interested in the country's education space are closely watching the project. If successful, the school may spark similar projects. “Our model has a mission for all of Russia,” Letovo teacher Alexei Belov told The Moscow Times.

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Horoshkola; below, The Letovo School in Moscow, Russia

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