Relatives of a businessman and a lawyer, Dmitry Shumkov, have entered into ownership of a hotel complex under construction, located on Varvarka Street, in the center of Moscow, and are currently negotiating its sale, Vedomosti newspaper reports.
According to investigation, in December 2015 Dmitry Shumkov committed suicide.
In 2014 the businessman bought out a building with located on Varvarka Street, with an area of 21,000 sq.m, from the Moscow government. The contract value was estimated 3,4 bln roubles. Dmitry Shumkov planned to convert the building into a five-star hotel with 320 rooms and invested about $300 m into its reconstruction.
At present, the market price of the hotel project on Varvarka Street amounts to about 4 bln roubles, and 6 bln roubles more should be invested in its reconstruction.
