The Top Project Company (part of Renova-Stroygroup) will invest about $600 million in construction of a resort complex with 3,600 rooms in the Imereti Lowlands of Sochi, where the Winter Olympic Games will be held in 2014, president of the company Veniamin Golubitsky said, RIA Novosti reports.
Foundation of the resort complex started on Saturday. The project is to be realized by June 2013. The Bank for Development and Foreign Economic Affairs opened an account for the project.
Rezidor is a world leader in operating hotels and will be invited for business.
The director general of Renova-Stroygroup, Mikhail Semenov, told RIA Novosti that the resort will meet international quality standards and offer high-quality service.
Over 12,500 apartments will be free after the Olympic Games. The complex will include a 4-star hotel and apartments. It has not been announced yet how the project will be paid for.
The president of Olimpstroy, Sergey Gaplikov, noted that realization of the project has strategic significance in preparations for the games.
