Lotte Group pledges $1bn investment in Russian retail and hotel sectors

Atrium Shopping Mall MoscowLotte Group, the South Korean multinational food and shopping corporation, this week pledged to invest up to $1bn in Russia’s hotel and retail sectors and is in negotiations to acquire the 103,000 m² Atrium shopping centre in Moscow’s Garden Ring near the Kursk railway station. It is also planning to develop a $140m hotel in St Petersburg and to capitalise on the opportunities that it predicts will arise in the wake of the current economic crisis.  Lotte already owns a shopping centre on the capital’s Novinsky Boulevard. 

 

Source: russia-ic