News: Moscow skyscraper Mercury City topped out today and has overtaken Renzo Piano's The Shard as the tallest building in Europe.

According to buildings analyst Emporis, the tower surpassed the 310-metre-height of Piano's London tower in September and it now stands at 339 metres tall.

The tower is one of five Russian skyscrapers in the list of ten tallest buildings in Europe, while Moscow is also the city with the most high-rise buildings on the continent. As an expert in large-scale construction projects, Emporis reports that the property boom there can be credited to a number of factors. "Many Russian and foreign investors focus on prestigious building projects," said analyst Matthew Keutenius. "Furthermore, there are less building regulations in Moscow than in other European metropolises."

Featuring a shimmering facade of golden glass, Mercury City was designed by Russian architect Mikhail Posokhin and the late American architect Frank Williams, and is due to be inaugurated in early 2013.

However, its reign as tallest building will likely be short-lived, as under construction nearby is the planned 506-metre Federation Tower, which is set to complete next year.

Compared with skyscrapers globally, Europe's buildings are still relatively small. The tallest building in the world currently is the SOM-designed Burj Khalifa in Dubai, which at 828 metres is almost 500 metres higher than Mercury City. Construction has also started on the Kingdom Tower in Jeddah, which will be over 1000 metres high once complete.

See more stories about skyscrapers »