Large Finnish construction projects underway around Tallinn landmark Viru Hotel
Published:
23 November 2003 y., Sunday
The Viru Hotel, the landmark of Estonian capital Tallinn, is currently undergoing extensive renovations. Its new conference centre and restaurant were opened in October. The façade of the hotel will be rebuilt, and a large shopping complex is under construction next door.
The hotel, which was built by a Finnish construction company during the Soviet period, officially joined the Sokos hotel chain in September. It was acquired in June by SOK, which runs supermarkets, hotels, and restaurants in Finland. The shopping centre is being built by Pontos, the local subsidiary of Finnish construction company SRV.
The Estonian tax system favours construction: if profits are invested back in a company's operations, no corporate taxes need to be paid on the profits.
According to the new director of the Viru Hotel, Markku Tarnanen, some 70 stores will be opened in the new mall. The hotel itself will get 90 new rooms on top of the existing 400. The need for conference services is expected to grow in Estonia after the country joins the EU in May 2004. Viru will attempt to shift its focus to business travellers in the near future. At present, some 65 percent of the guests at the hotel are tourists. Finns account for 80 percent of all Viru Hotel guests.
Šaltinis:
helsinki-hs.net
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
In European sustainable energy week 2010, new EU energy commissioner presents strategy to reduce Europe’s dependence on fossil fuel.
more »
The EBRD is launching a Project Complaint Mechanism, which is expected to enhance the accountability and transparency of the Bank’s operations.
more »
The EBRD is boosting the availability of local currency financing in Armenia with a synthetic loan in Armenian Drams (AMD) worth $4 million to FINCA UCO CJSC for on-lending to local micro and small enterprises (MSEs).
more »
This year is the UN year of biodiversity and it brings endangered species into the spotlight.
more »
The World Bank Board of Directors today approved a US$65 million project to support the recovery of Haiti’s critical infrastructure as well as the reestablishment of basic State functions following the devastating 7.0 magnitude earthquake on January 12, 2010.
more »
Haiti’s arduous reconstruction and recovery process jolted forward today following fresh commitments to help the Caribbean nation rebuild in the wake of its devastating January 12 earthquake.
more »
A mission from the African Department of the International Monetary Fund (IMF) visited Uganda during March 4-17, 2010, to conduct the seventh and final review under Uganda’s Policy Support Instrument (PSI) and reach understandings on a policy framework for a new three-year PSI to cover the period 2010 to 2013.
more »
The European Economic and Social Committee (EESC), as the first EU institution, rose to the challenge of providing a comprehensive vision for the future of the Common Agriculture Policy (CAP), in advance of the European Commission's papers on the matter, due to be issued later this year and in 2011.
more »
The outlook for primary energy supplies, heat, and electricity is questionable for the Eastern Europe and Central Asia region, despite Russia and Central Asia’s current role as a major energy supplier to both Eastern and Western Europe.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 36-month, SDR 513.9 million (about US$790 million) Stand-By Arrangement (SBA) for El Salvador to help the country mitigate the adverse effects of the global crisis.
more »