FEA TURE — SOCHI WINTER OL Y MPICS
SOCHI 2014
Road and railway traffic for the Games will also be provided by a complex of tunnels, which will include a road tunnel (2.153 thousand metres long), a single-track railway tunnel (2.473 thousand metres long), and service- escape gallery (2.25 thousand metres long).
explained by the effects of the global recession, and fur- ther research related with the environmental issues, dif- ficult terrain, and the need to buy building plots from their owners at market price. If you do not take these fac- tors into account, then the cost of Sochi 2014 will be equal to the cost of the Games in Turin.”
New Road Infrastructure The construction of a new road infrastrucre in Sochi remains the largest spend from the Sochi Olympic budg- et, which could also be explained by the high level of corruption in this sector. The construction of Sochi’s main street, Kyrortny Avenue, which is designed to solve the problem of traffic jams during the Olympics, will cost more than 100 billion rubles (USD$3bn), according to the Sochi government. The road will be around 17km and is one of the major
building projects for the 2014 Games. According to State plans, it will be the main artery through which the guests and participants of the Olympics will move. The road will have eight interchanges and cross-overs on the main highways of the City. Construction of the first stage of the Kyrortny Avenue is scheduled for completion in 2012, with the second and third lines to be in operation by 2013. In addition to main Olympics intracity road, the Rus-
sian government plans to complete the construction of a second major road, which will connect Sochi with its air- port in the Adler region, where all the athletes, officials, VIPs, and guests are expected to arrive. The new combined railway and motorway/highway
is known as ‘Adler-Krasnaya Polyana’ and will be 48.2km long. It will be located on the left bank of the Mzymta river. The combined link road will not only serve as the main passenger trunk road for the Olympics, but also as an important link in the transport infrastructure in the region. It will have numerous junctions, which will con- nect the new motorway/highway with the airport and the already existing federal M-27. Road and railway traffic for the Games will also be provided by a complex of tunnels, which will include a
20 th AN N I V ER S AR Y P AR T II/ S U M M ER 1 2
road tunnel (2.153n thousand metres long), a single- track railway tunnel (2.473 thousand metres long), and service-escape gallery (2.25 thousand metres long).
Hotel Construction A significant volume of the overall Games investment is expected to be allocated in the increase of hotel room capacity in Sochi and the reconstruction of the City’s already existing hotels. According to various estimates, up to 70% of Sochi’s hotels are in bad condition. The State plans show that by 2014 more than 26,000
new hotel rooms are expected to have been built in Sochi, including five-star hotels (with a total capacity of 2,000 rooms), four-star hotels (with a total capacity of 10,000 rooms), and three star hotels (with a total capaci- ty of 14,000 rooms). Almost all of the new Sochi hotels are expected to be built by private Russian and foreign investors. The total Olympics’ hotel room stock should reach 42,000 rooms by 2014. According to the estimates of Alexander Gendels-
man, CEO of Azimut Hotels Company, one of Russia’s leading hotel operators, the minimum volume of invest- ment in the construction of the planned number of rooms is USD$2.33bn. In addition to the State and local private investors, (including the structures of Roman Abramovich, Vladimir Potanin, and other Russian oligarchs), interest in the con- struction of hotel infrastructure has already been expressed by such world’s leading hotel operators as Hilton, Radisson, and Kempinski, as well as the Abu Dhabi Investments fund, which plans to become a co-in- vestor in the construction of the ‘Mountain Carousel’ sports and tourist complex. In addition, Todini Costruzio- ni Generali, one of the largest Italian real estate develop- ers, recently announced its plans to invest EUR600-700m in the construction of two state of the art hotel-retail complexes in Sochi.
The Olympic Village The Olympic Village will be located in the picturesque area of the Imereti Valley, not far from the Olympic Park, and will be comprised of 53 residential housings, which
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