RGI International has received planning consent from the Moscow government’s Urban Development Committee for a 160-bed hotel in the city centre.
The proposed development is located within the Garden Ring at Zemlyanoy Val Street and will extend to approximately 100,000 sq ft. The development on the 0.2 hectare site will be designed by Russian architect, Yury Grigoryan.
RGI originally planned an office development on the site but this was changed in 2009 in favour of a 3 or 4 star hotel. GZK has recently extended the relevant investment contract and agreed dates for completion of the design and the grant of land lease rights.
Construction is expected to take around four years although a more precise timescale will be proved once the project documentation is completed.
Andrey Nesterenko, RGI chief executive, said: “We understand that for the city to become one of the main touristic and business attractions it needs more good quality 3-4 star hotels. Our aim is to develop a new hotel complex that blends into Moscow’s historical centre by supporting traditions and by complementing the local architecture.”