The Free Port of Vladivostok, a zone with special economic and fiscal conditions in Russia?s Far Eastern Primorye Territory, has attracted its first investor ? a five-star hotel built by a joint venture between the Russian Transit-DB Holding and two Chinese companies: Zhun Gun Sin, which manages Chinese state assets, and the High Way construction firm.
The joint venture will invest 5 billion roubles (US$78.2 million) in the construction of the 182-room hotel, which is planned to open within two years.