The authorities of the Russian city of Saint Petersburg intend to hand over historical buildings to concessioners to arrange hotels on their places.
According to Vedomosti, concession mechanism implies letting the buildings with land plots in Saint Petersburg with the purpose of their reconstruction into hotels. The rental period is 49 years.
Negotiations with potential investors are underway. Among the first buildings, which are to be converted into hotels, there are houses on the Moika River embankment and in Bolshoy Kazachiy By-Street.
Buildings located on Voznesensk Prospekt with a total area of 7,400 square meters and on Kamennoostrovsk Prospekt with an area of 7,800 square meters are being considered as well.