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KMD to develop 16 three-star hotels


2010-01-25



The Russian developer Kuznetsky Most Development (KMD) will be involved in the construction of 16 three-star hotels in the Central Federal District of Russia and in Belarus.
The company will act as a fee developer, which means that it will manage the projects for a fee. The first two hotels – the Park Inn (236 rooms) and the Radisson (233 rooms) – are to be built in Lipetsk and Minsk.
Fee development is a new concept in Russia and was introduced in the wake of the economic crisis.

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Construction Russia Online is the authoritative source of market intelligence for construction professionals. Reporting on news from the Russian construction market, including contractors & developers, building materials, real estate, planned investments and Ukraine construction market, this news service offers approx. 100 industry news items and features each month. Archives date from 2006, with articles covering both residential and non-residential developments, as well as civil projects.
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