00:0020 ноября 199800:00
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00:0020 ноября 1998
AOZT Grand Palace has been given permission to start construction of a hotel and retail complex on Italianskaya Street, in January 1999.
<BR>AOZT Grand Palace has been given permission to start construction of a hotel and retail complex on Italianskaya Street, in January 1999.<BR>According to Grand Palace's general director, Mikhail Gubkin, the new building will have an entrance on Nevsky Prospect, at number 44, which is owned by Nord. An entertainments centre is presently under construction on the ground floor of the building, which will be continued with retail outlets for pedestrians entering from Nevsky Prospect. The total area of future construction is to be 15,000m2. All that is left of 15 Italianskaya Street is the facade: the area behind has already been cleared. The lower two stories of the planned building will be reserved for shops, while underground premises will be equipped for storage, and parking for 100 cars. A twoor three-star hotel with about 150 rooms will be located on the upper stories, as well as high-class residential apartments.<BR>The cost of the work is planned to cost $14m and last 14-16 months; the investment recoupment period is assessed as 4.5-5 years.
