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Vietnamese investor intends to build hotel in St Petersburg

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Vietnamese investor intends to build hotel in St Petersburg

An investor from Vietnam plans to place some 672 million rubles ($11,5 million) in the reconstruction of a building into a hotel in the Russian city of St Petersburg, the chairman of the city investments committee, Irina Babyuk, told reporters on Monday.

The facility will be located in Sredniy Prospect, 40, on Vasilyevsky Island.

“A private concession initiative was submitted on the part of a Vietnamese company. The building’s area amounts to 3,500 square meters. The facility is planned to be reconstructed into a three-star hotel. The period of design works is 27 months, while that of the reconstruction amounts to 43 months,” Irina Babyuk added.

She specified that the meter concerned Center ATR Saigon LLC.

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