The regional government of the Russian city of Saint Petersburg has approved a design project for the area in the south-west of the city situated between Marshal Kazakov Street and the Krasnenka River.
The Chinese Hua Bao company plans to build an exhibition and “Druzhba” congress center with an area of 30 hectares there, local media report.
Overall, 265,000 m2 of commercial platforms, such as exhibitions, trade pavilions, and office centers are to be constructed. Also, two 25-storey skyscrapers with hotels and business centers will be erected.
The total amount of investment in the project is estimated at $35 bln. The Chinese investors pledge to complete the congress and exhibition center construction by 2024.