Far East | Real estate

Krasnoyarsk’s $242m Vladivostok hotels mulled over

2 Jun '09
Krasnoyarsk Region is likely to invest $242m in construction of two five-star hotels in Vladivostok by the APEC-2012 summit, Vedomosti reports.

Krasnoyarsk Governor Alexander Khloponin reportedly visited Vladivostok and chose the prospective construction sites himself to make sure the future projects were attractive to tourist operators.

Krasnoyarsk will generate revenue from the hotels, the newspaper said.

The initiative to invest reportedly came from the RF government.

According to Vladivostok city officials, “construction details are being considered.”

The Krasnoyarsk regional administration says “…no final decision has been made yet.”

The RF government is reportedly planning to inject more than $9bn in the Asian-Pacific Economic Cooperation summit, with another $2bn to be kicked in by other sources.
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