“ZIL”’s developer to erect hotel in Leipzig

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“ZIL”’s developer to erect hotel in Leipzig
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"LSR Group" in partnership with S&G Development GmbH will build a hotel compound near the central railway station in Leipzig (Germany), Interfax-Realty reports with reference to the source in the company.

The compound will consist of two six storey buildings of the middle-class and economy-class (Ramada and H2).

The compound operator will become the Hospitality AG company. The tenancy agreement is signed for 20 years’ term. The objects are to be put in operation in 2019.

The Leipzig project is not the first one for the “LSR Group” company. They have already constructed the first in Germany apart-hotel, Adagio access, and a new hotel of the "ibis budget" chain in Munich.

The “LSR Group” JSC is a large holding dealing with the production of construction materials, construction and development. There are 10m sq.m in the company’s realty portfolio. In particular, in Moscow, the company deals with the redevelopment of the “ZIL” plant’s territory. The project includes the construction of 1.5m sq.m of residential housing for 55,000 people and the creation of 30,000 jobs.