2024: The reconstruction project is moving from the Chinese Vanke Group to "Kievskaya Square"
The Chinese Vanke Group in March 2024 decided to withdraw from the restoration project of the former Imperial Educational House near the Zaryadye park.
As a result of the reconstruction, the object will grow with a hotel for 100 rooms and apartments, and will also become more by 60,000 "squares."
Its cost is estimated at 30 billion rubles, and the new owner, according to Kommersant, is Kievskaya Ploshchad.
The reasons for the departure of the Chinese are two: the financial problems of the company within its country, where the real estate market is now experiencing a major crisis. And the change in the structure of our market in terms of project economics due to geopolitical reasons.
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