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21 June 2010

Conclusion of a contract for participation in the Zolotoye Koltso project

On June 17, 2010, ZAO General Directorate Centre signed a contract with ZAO Zolotoye Koltso Resort to act as the Managing Company for the Zolotoye Koltso project. Under the contract our company will provide support in respect of design and survey works, construction and layout of engineering networks and other premises.

Zolotoye Koltso is expected to be an international-level tourism and recreation complex. It will be situated on 30 ha close to the town of Pereyaslavl'-Zalessky, right in the centre of the popular Golden Ring tourist route - 130 km from Moscow, 120 km from Yaroslavl' and 100 km from Vladimir.

The first stage of construction started in May 2010 and is expected to finish in 2011. The total area of the first stage is around 245,000 square meters. Upon construction of the first-stage buildings (a 3-star hotel, a 4-star hotel with 300 apartments, a congress centre, a spa complex, guest houses, restaurants, sports and children's centres), the developer is expected to provide top-quality services to the existing flow of tourists on the route.

Subsequently, the plan provides for construction of 14 hotels, a recreational centre, a fitness hall and some other buildings. The resort will be able to accommodate 3,000 tourists and will be centred around the thematic entertainment park devoted to the history of Russia and the Golden Ring cities. Construction of infrastructure facilities at the resort will create favourable conditions for the development of local small and medium-size businesses in the hospitality industry. In general, the project will positively influence the level of economical development of 5 regions and over 20 towns that are part of the Golden Ring travel route. Completion of the construction and commencement of operations are planned for 2017.

Preliminary Master-Plan of 'Zolotoye Koltso' Resort:

Project Participants:

Managing Company- ZAO General Directorate Centre. Project will be supervised by Deputy General Director I.A. Fridman

Developer- Rusresorts

General Planner-Architectural workshop of Totan Kuzembayev, Workshop ArchStroyDesign ASD

Primary Contractor-ZAO Panterra