OREANDA-NEWS. On 25 March 2008 was announced, that Metropol group plans to build a business park priced at \\$600 million near an area under development owned by Moskvich automobile plant.

The site where the company intends to build a new complex went to it in December 2006 – at that time Metropol purchased 54 objects of the property of JSC Moskvich.

Currently there are the buildings of the former company management on the site with the area of about 100,000 square metres set to be developed.

Metropol Development intends to put up the 400-square-metre business park there. It will embrace offices, a three-star hotel and stand spaces. The first stage includes the reconstruction of the existent buildings priced at about \\$150 million. It is to be commissioned by the end of 2009.

According to the edition, about 300,000 square metres of the commercial real estate are to be built there in the sequel. The investment in the construction is appraised at \\$600 million.

Oleg Korol, CEO of Metropol Development, added that a concept of the project was being elaborated jointly with the department of science and industrial policy of Moscow.