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| Warimpex to build Airportcity in St. Petersburg Vienna-based Warimpex Finanz- und Beteiligungs AG has taken a crucial step forward with its St. Petersburg development project: the City of St. Petersburg has now issued the building permit for the first phase of project development. In an 85:15 joint venture with St. Petersburg Airport, Warimpex is working on the development of a business park to be erected on a 62,000 sqm site at the international Pulkovo 2 Airport. After two years of intensive development work, Warimpex can now embark on the first construction phase, encompassing a four-star hotel operated by an international hotel chain plus three office buildings with some 40,000 sqm of net lettable floor space. The total investment costs of this phase will amount to approximately EUR 120 million. Warimpex plans to erect further office buildings with a net lettable area of 50,000 to 60,000 sqm in a second construction phase. The Airportcity St. Petersburg project is the largest real estate development project in Warimpex' company history. write your comments about the article :: © 2007 Construction News :: home page |