The race to claim Europe’s tallest buildings is on, and it’s being fought on Russian soil.

Moscow City Hall has announced plans on Friday to build the tallest apartment tower in Europe a year after the city lost its claim to Europe’s tallest building to St. Petersburg.

Officials say the 101-story “One Tower” will stand 405 meters tall, overshadowing all the other skyscrapers in the city’s financial district. Apartments in the glass-facade tower will be equipped with smart home technology and the general public will be offered a bird’s-eye view of Moscow from a 100th-floor observation deck.

“It’s a very complex and ambitious project,” said Marat Khusnullin, Moscow’s deputy mayor in charge of urban planning and construction.

Construction will be overseen by the City Hall-owned Mosinzhproekt company, which has been awarded several other key Moscow projects, including an unprecedented $17 billion metro construction contract

“I’m sure it will be built on time,” Khusnullin said at the Moscow Urban Forum without naming the construction’s timeline or its cost.

Russian gas giant Gazprom’s 462-meter Lakhta Center in St. Petersburg overtook Moscow’s 370-meter Federation Tower as Europe’s tallest building when construction came to a close last October.