OREANDA-NEWS. On 06 April 2009 the city authorities of Moscow announced an open auction for the right to conclude a contract for leasing the site on 37-41 Stavropolskaya Street intended for construction of a hotel.

“It is planned to raise a hotel on the 0.89-hectare site over two years,” Gennady Degtev, head of Tender Committee of Moscow, said.

The official added that the site was located along Stavropolskaya Street, 1,100 metres from Lyublino station of the Moscow metro.

“The ultimate area of the structure to be built will be 22,100 square metres that will enable to divide it into 250 hotel rooms. However, types and a number of them will possibly be specified by an additional project,” Mr Degtev noted.

The object is designed to have 16 storeys above the ground and an underground storey.

“The investor’s tentative costs for the project implementation will be around 660 million roubles (~USD 19.5 million), not including the costs for providing the hotel with manufacturing equipment and furniture,” the head of Moscow’s Tender Committee specified.

The opening bid is to be 288,244,000 roubles (~USD 8.5 million), the bid increment – 4.5 million roubles (~USD 132,353).

The auction is scheduled to be held on 9 April 2009.