Chinese investors taking interest in buying hotel at Burny Cape

Hunchjen, a Chinese company, has taken interest in completing the construction of a hotel at the Burny Cape, Vladivostok. The details of the potential cooperation were discussed between the investors and representatives of the Primorye Territory Investment Agency and Nash Dom-Primorye company.

Chinese investors taking interest in buying hotel at Burny Cape

Hunchjen, a Chinese company, has taken interest in completing the construction of a hotel at the Burny Cape, Vladivostok. The details of the potential cooperation were discussed between the investors and representatives of the Primorye Territory Investment Agency and Nash Dom-Primorye company.

Si Lyanjen, the Chairman of the Chinese company's Management Board, noted that this was not the first meeting in connection with the purchase of the hotel. "We have already met with representatives of the Investment Agency and even succeeded in inspecting the property. I must say the hotel is a very beautiful one. We would like to clarify some details and obtain more detailed information", Si Lyanjen emphasized.

Sergey Zaporozhets, the General Director of JSC Nash Dom-Primorye familiarized the partners with the details of the project and answered the questions raised by the Chinese delegation.

Sawyer & Co, an international company acting under the GVA SAWYER brand is completing its appraisal to determine the market value of the both existing hotels – a multipurpose business class hotel facility at Korabelnaya Embankment and a resort type hotel at the Burny Cape in Vladivostok. After the appraisal is completed, the hotel will be put on auction.

The Director of JSC Nash Dom-Primorye believes that there will be several bidders for the auction as foreign investors show a special interest in 5-star hotels. Furthermore, Sergey Zaporozhets emphasized that pursuant to an agreement reached the Far East & Baikal Region Development Fund is ready to grant a loan at a preferential interest rate for completing the hotel.