R.G.I. International gets approval for new hotel development.
M2 EQUITYBITES-April 16, 2012-R.G.I. International gets approval for new hotel development(C)2012 M2 COMMUNICATIONS http://www.m2.com
R.G.I. International Limited (AIM:RGI), a developer of residential and commercial properties in Moscow and the surrounding areas, confirmed today that a previously amended project contract has been permitted by the Moscow Government's Urban Development Committee (GZK).
The proposed 160-bed hotel city centre development is located within the Garden Ring at Zemlyanoy Val St., bld. 70-1 and Russian architect Yury Grigoryan, who designed RGI's retail development Tsvetnoy Central Market building, has already created a concept.
Originally RGI had planned an office development on the site but this was changed in 2009 in favour of a three- or four-star hotel.
Construction work on the project is expected to take around four years.
((Comments on this story may be sent to email@example.com))
|Printer friendly Cite/link Email Feedback|
|Publication:||M2 EquityBites (EQB)|
|Date:||Apr 16, 2012|
|Previous Article:||Plexus signs GBP1.05m contract with Bowleven.|
|Next Article:||-Eight banks to arrange USD4bn debt financing for Cheniere Energy.|