Avielen to invest another EUR 155 mln in Airportcity

The project, which is being developed close to the Pulkovo airport in St Petersburg, has already consumed app. EUR 145 mln. Since the start of the construction work on the project in 2007, a 294-room Crowne Plaza hotel and a 16,800 sqm two-building Jupiter business center have been built. The latter was sold to the Russian private pension fund Blagosostoyanie for EUR 70 mln. In the coming three months, a 16,000 sqm Zeppelin office building worth EUR 30 mln is set to be completed, while four more buildings, including hotels and business properties, are to be constructed within the project by 2020. Its retail part on the other hand is to be delivered by 2030. (RIA Novosti)