Deutsche Bank will finance the reconstruction of the Hotel Moskva in the Russian capital, providing some $600 mln to the hotel's owner Dekmos, Deutsche Bank's vice-president Olga Podoinitsyna said Tuesday in a statement.
Deutsche Bank will finance the reconstruction of the Hotel Moskva in the Russian capital, providing some $600 mln to the hotel's owner Dekmos, Deutsche Bank's vice-president Olga Podoinitsyna said Tuesday in a statement.
The world-famous hotel will be redeveloped into a five-star hotel including retail and leisure centres, office space, and an underground parking facility with 800 parking spaces. DekMos, an open joint-stock company, was created specifically to develop the project by US-based Decorum and its Russian affiliate OOO Decorum. Dekmos is 51%-controlled by Decorum and 49% by the city government. A portion of the shares in Dekmos will be floated on the international exchange, and Deutsche Bank is said to be the exclusive placement agent.
Hotel company Four Seasons will operate the hotel, representing its first project in the country. The construction contractor for the site is Austria's largest developer Strabag SE, while the architectural design is in the hands of London-based Wimberly Allison Tong & Goo (WATG).
