Lotte building high-class hotel, business center in Moscow
By Lee Chae-eun Lotte Engineering & Construction, a leading contractor in Korea, is aggressively expanding
business in Russia taking advantage of booming urban development there. The company is participating in a project to
build a top-class hotel- business center in downtown Moscow to be completed in April 2006.
Named New Arbat Hotel and Business Center, the 89,278 square-meter building will have 23 floors above ground and four
floors below street level.
The skyscraper will have a premium department store, sports and cultural facilities, and offices equipped with
high-tech intelligence system. A hotel with 400 rooms will be built by the center by the end of 2006.
The company, an affiliate of Lotte Group, said it won the large-scale project thanks to its competitive edge in
building high-class commercial, residential and office complexes in Korea.
"Lotte has accumulated the know-how with years of experience carrying out construction work of blending
department stores, offices, hotels and other accommodations," a Lotte public relations official said.
Founded in 1959, the company took part in construction of Gyeongbu Expressway between Seoul and Busan in the 1960s,
one of the largest infrastructure projects in modern Korea.
Another biggest achievement was the Banghwa Bridge linking Seoul and Incheon International Airport. It also took part
in construction of subway system in Seoul and Busan. In 1990, the company completed the 559,235-square-meter Lotte World
in southern Seoul, one of the largest theme parks in Korea. It is building a second Lotte World in Busan to be completed
in December 2005. The company began building premium apartment complexes under the brand name of "Lotte
Castle" in 1999.
(congcong82@heraldm.com)
|
RUSSIA IN FACTS
