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... up to $10 billion is expected to be invested in the construction of high-speed rail and road networks.
Omsk to Novosibirsk, Kazan to Samara, Novosibirsk to Krasnoyarsk, Kazan to Yekaterinburg and Kazan to Ufa.
The construction of roads will take place on the basis of concession agreements and is expected to be started next year. The construction of a Moscow to St. Petersburg highway will cost at least $2 billion, while Moscow to Ekaterinburg may be as much as $4 billion. An interest in participating in the projects has already been expressed by several major companies from around the world, such as Hyundai (Korea), Siemens (Germany), CRCC (China), and Alstom (France).
Hotel development
The cities which were included in the fi nal list of hosts for World Cup 2018 are well-equipped with hotels in the high price segment. However, all of them lack affordable quality hotels.
According to the estimates of Knight Frank, one of the largest international analytical agencies in real estate, total hotel room capacity of the Russian cities, which will host matches of the World Cup is more than 80,000 rooms. But more than 70% of them were built during the Soviet era and have already become obsolete.
Experts say that the cost of accommodation in these hotels is quite high, compared to the EU level and the quality does not always match that price. According to Knight Frank, the best hotels are located in Moscow and St. Petersburg, Russia’s largest cities.
Currently Moscow has more than 31,200 rooms in three, four and fi ve-star hotels, while in St. Petersburg this fi gure exceeds 16,000. One of the problems of both cities is the dominance of high priced hotels, which account for more than 50% of their total rooms’ number.
Among the other host cities, only Sochi has a suffi cient number of rooms, which is estimated at 9,000. The two other large Russian economic hubs, Kazan and Yekaterinburg, may soon be ready for hosting the World Cup because their hotel room capacity is expected to be signifi cantly expanded during the next few years from the current 4,000 and 3,500 rooms respectively.
Meanwhile, hotels in other Russian cities are not ready for the tournament. This is refl ected by the fact that hotel
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room capacity of Samara is estimated at 2,500 rooms, Nizhny Novgorod at 2,200 rooms and Volgograd and Rostov-on-Don 2,000.
The situation is aggravated by the fact that, in contrast to Moscow and St. Petersburg, most Russian provincial cities currently experience a shortage of luxury fi ve-star and even four-star hotels. However, in the latter case there is a possibility that the situation may improve, as the authorities of some of these cities have recently announced their plans to build luxury hotels in the near future. For example, the new Sheraton hotel, designed with 307 rooms, is expected to be built soon in Rostov-on-Don. In Nizhny Novgorod the new Kempinski hotel with 330 rooms is planned.
Despite the existing problems, Russian analysts believe that Russia still has enough time to build the necessary infrastructure for the World Cup. Sergei Choban, Managing Partner of the architectural bureau SPEECH Choban & Kuznetsov, one of the largest architectural fi rms taking part in the construction of hotels for the FIFA World Cup in Russia, advises: “Russia has enough experience in the hosting of major sporting events. The country was an organiser of the Summer Olympics in 1980 and currently continues preparations for the Sochi 2014 Olympic
DEVELOPMENT – WORLD CUP 2018
Games. These problems are not new and are expected to be solved during the next fi ve years.”
In fact, World Cup 2018 will be the third major event organised in Russia in a short period. The Russian government has already spent more than $21 billion, as part of the preparations for the recent APEC summit in Vladivostok and the Sochi Winter Olympics will have approximately the same cost.
At the same time, a number of local analysts also believe that the Russian government should not abuse the opportunity brought about by the construction of sports facilities, due to the fact that the whole building infrastructure will require huge amounts of money to maintain it in good condition after the tournaments.
Alex Mogila, Director of the department of commercial real estate of Penny Lane Realty company, one of the largest Russian real estate agencies, comments:
“It will be almost impossible to redesign or convert all the infrastructure after the end of the events, while its maintenance will remain a big problem for local authorities. They will have no money for maintaining it and they have no ideas regarding its further use. Therefore its maintenance will be carried out at the expense of tax payers.”
Zenit Stadium, now under construction, will have a sliding pitch.
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