The Group of Companies St Sophia Homes (Kiev) has resumed the previously suspended due to problems with financing construction of 24-storied hotel complex with residential apartments on blvd. Shevchenko, 28-30 in Kyiv. Hilton Hotels Corporation will be an operator of it, “Interfax-Ukraine” reports.
“We have resumed the construction in late December, as we’ve got the next credit tranche. We are going to finish it by Euro 2012″, – said Constantine Pivovarov, the Chairman of the Board of the Group, but he didn’t mention the tranche size.
According to him, investments in construction of the hotel will be around 150-200 million UAH this year.
The Head of the Board of the Group also noted, that it is scheduled to complete the construction of monolithic framework and to begin the work on the facades and some internal works.
As previously Pivovarov reported, about 180 million UAH have been invested in the project by the end of November 2009. At that time, he assessed the project needed funding of another 500 million grn.
In April 2006 St Sophia Homes signed the contract with Hilton Hotels Corporation to manage a hotel complex for 25 years from the date of commissioning.
Works on the building with total area of about 58 thousand square meters started in 2007. According to the project the hotel will be situated on floors one through nine with 257 rooms, higher floors will be taken by 93 residential apartments, which are planned to sell.
In addition, it it is planned to build a three-level underground parking there as well.
Group of Companies St Sophia Homes is an investment and development holding company, engaged in project development, management, design and construction, as well as other real estate assets. It specializes in hotel, office and residential segments.

St. Sophia Homes is planning to finish construction of the Hilton Hotel in Kyiv by Euro-2012, 7.7 out of 10 based on 3 ratings

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