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Primorye authorities fail to sell Hyatt long-delayed construction

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Primorye authorities fail to sell Hyatt long-delayed construction

The tender date postponed four times due to the absence of claims. Another tender will take place on February 28th.


As Interfax Realty reports, one of the two unfinished Hyatt hotels was removed from trading. The decision was taken according to the auction documentation (p.1.7) implying that the seller (“Nash dom – Primorye” JSC) has the right to withdraw from the auction, but not later than three days before it.

Earlier, the public sale term was prolonged due to the absence of claims. Online auction was scheduled for February 28th.

The construction of the two 5-star hotels in Vladivostok started within the preparation for the APEC-2012 summit. But the construction work has not been completed yet. A decision was taken to complete one of the hotels and to sell the other. They were planned to be the 5th and the 6th Hyatt hotels in Russia.

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