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
EBRD to pay 4.6 billion roubles for 11.75 percent stake.
more »
On 24 November in London a letter of intent will be signed between Alytus Municipality and the Spanish aluminium company “Sopena group” regarding investments of the “Sopena group” in Alytus.
more »
Tourism opportunities in Dzūkija Region of Lithuania and other issues of incoming tourism promotion were the main topics of the meeting of the Mixed Intergovernmental Commission on Trade and Economic Cooperation between the People’s Republic of China and the Republic of Lithuania.
more »
On 22-23 November in Kiyv, foreign ministers of Lithuania, Ukraine and Belarus discuss trilateral cooperation and participation of Belarus and Ukraine in the Eastern Partnership of the European Union.
more »
The Kozloduy International Decommissioning Support Fund is supporting an innovative programme to boost energy savings and efficiency of public buildings in Bulgaria with a €5 million grant.
more »
Bank DnB NORD’s Economic Research Group predicts that out of the six Baltic Rim countries, moderate economic growth will be seen in Poland, Finland and, possibly Estonia in 2010, while Denmark, Lithuania and Latvia will need more time to climb out of recession.
more »
In a meeting in Brussels of the European Bank Coordination Initiative held on 19 November 2009, the parent banks of the six largest foreign banks active in Hungary reaffirmed their commitments made in May 2009 to support their subsidiaries.
more »
On 17 November 2009, the Board of AB Bank SNORAS decided to establish the bank’s representative office in London.
more »
The European Commission has approved, under EC Treaty state aid rules, two capital injections in favour of 'The Mortgage and Land Bank of Latvia' (LHZB).
more »
The government of G hana will tomorrow sign an historic agreement with the EU aimed at ensuring that only legally harvested timber from the West African country is exported to the EU market.
more »