Moscow authorities prefer hotels in the center of the city
The Moscow authorities have offered investors to build mini-hotels and not offices in the city’s center. Alexei Aleksandrov, the head of the city’s Central Administrative District (CAD), said premises will be provided to investors wishing to open small hotels in the center of the Russian capital.
According to the high-ranking official, this decision was dictated by two key reasons. “First, city center residents have made a lot of complaints against the construction of offices in downtown during the public hearings on the General Plan for the Development of Moscow till 2025, and secondly, the Moscow City Hall banned office construction in the CAD last summer.”
At the same time, Aleksandrov recognizes the legality of the investment contracts on building offices in the city center that were penned prior to the ban and the need to meet all the terms and conditions of such contracts and other contractual obligations, a necessity which has made the Moscow city government to find an alternative solution.
“In this regard, we are offering investors, who have signed contracts on building offices in the city center to change such contracts into development of mini- and three-star hotels. This will also equally profitable for such investors as well because the city’s hotel sector is developing fast,” he noted. “Besides, we are currently having a traveling boom, but there is a lack of sufficient hotels, especially in the city center. Therefore, these new, small three-star hotels will be in high demand.”
At this moment, however, not all such investors have agreed to the new offers from the city authorities.
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