Real Estate77

Cyprus Company to Build Hotel on Pieramozhcau Avenue

Cypriot company Galleria Concept Blr Limited and Belarusian authorities agreed on the terms of construction.

The new hotel to be built on the site of Belarusian State University dormitory in Pieramozhcau Avenue. The corresponding agreement № 222 was signed on May 7, 2012.

The new multifunctional complex will include 7-storey entertainment centre of 70,000 sq. m. total and a parking area with 1,350 parking lots and a 10-storey hotel with 350 rooms, SPA-centre and conference-rooms.

Overall investments in the project are estimated more than $100mn.

The investors are provided with a row of tax and administrative benefits within the frameworks of the project implementation.

An interesting fact: Lilija Lukashenka, the wife of Aliaksandr Lukashenka’s son Viktar was an employee of one of Cypriot development companies called Eastleigh Trading Ltd.

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