DUSHANBE, December 4, Asia-Plus – Russia’s Russkiye Oteli (Russian Hotels) has launched preparations for the construction of a business center in Dushanbe.
According to representative office of the Russian limited liability company Sozidaniye (Russian Hotels’ affiliate) in Dushanbe, the business center will be constructed in the Ayni Street. “The major part of an overall space of 30,000 sq.m. of the center will be occupied by the representative office of Russky Alyuminy (Russian Aluminum or RusAl) n Tajikistan,” the source said, noting that the estimated budget for the construction of the center is US$25 million-US$30 million .
The business center will consist of two buildings: one will be 6-story and another one 12-story. The center is expected to be finished in March 2008.
The construction of the business center is the second project implemented by Russkiye Oteli in Tajikistan. Russkiye Oteli has also invested into the construction of a five-star hotel for the international operator HYATT in Dushanbe. The construction of the hotel officially commenced in March 2006 and will be finished in 15 months. The estimated budget for the implementation of this project is US$65 million.
Russian Hotels Company was established in September 2004. Main directions of the company’s activities are – creation of new objects of commercial real estate (hotels, business centers) in Russia and CIS countries (from real estate development to transfer of a ready object for administration by specialized companies); attraction of capital for implementation of investment into the commercial real estate; hotel business; trust management of the attracted capital; ensuring effective asset management; and receiving of the maximum return on investment. Company’s goal is to create liquid commercial real estate objects and establish a system of their successful management. The company is focused on a long-term perspective in development of business projects and views construction of hotels and business centers as a highly-profitable business and one of the most effective ways of investing money into an actively developing field of economy – hospitality and business cooperation industry. The priority area for Russian Hotels development is construction of VIP-class hotels.
