OREANDA-NEWS. On 18 July 2008 Aras Agalarov, the President Crocus Group, told about negotiations during the interview by the international information agency Bloomberg.

According to Aras Agalarov the management contract with Kempinski AG is expected to be signed with two-three coming months.

According to the project the 5* hotel for about 600 rooms will be constructed by 2011 in the Crocus City Trade&entertainment Complex area between the Crocus Expo IEC and the Crocus City Mall de luxe shopping centre. The investments into the project will make about 10 billion RUR (about 430 million USUSD ).

It is also planned to construct a business centre comprising about 100 000 sq meters and two hotels for the complex guests: 4* hotel and 3* hotel also told Aras Agalarov. Thus the primary concern related to exhibitors and exhibition visitors accommodation will be eliminated for all social groups: people of moderate means and the most demanding guests.