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Developer from Qatar invests up to $100m in hotel construction in Crimea

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Developer from Qatar invests up to $100m in hotel construction in Crimea

Developer from Qatar will build a large hotel in the Crimea, Interfax reports on Friday.

Premium Construction, a Qatari company, the state autonomous institution Business and Cultural Center of the Republic of Crimea and Yalta city administration signed a memorandum of understanding on the sidelines of the Yalta international economic forum.

According to the head of Yalta city administration, Andrei Rostenko, the project involves the construction of a large hotel complex with a congress hall. The total investment will amount to $100 million.

“Our objective now is to find a suitable plot of land in the coastal zone ranging from 5 to 19 hectares. Implementation of this project will also create jobs and improve a tourist infrastructure of the region, as well as will create conditions for holding major international business events” — Mr. Rostenko stressed.

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