Sistema companies Business Nedvizhimost and Cosmos Hotel Group join forces to revamp Dom Svyazi building in the heart of Moscow
Sistema company Business Nedvizhimost has announced plans to renovate the Dom Svyazi building in Moscow’s historic center. The building, situated on the recently redeveloped Noviy Arbat street, was built in 1967 to house an ATS (automatic telephone station), a post office and telegram service. The building lost its original function due to the shift to digital standards.
The ambitious architectural project, developed by UMArchitects, will include a 245-room 4-star hotel operated by Sistema company Cosmos Group, in addition to 38 premium apartments, all encapsulated in a glass façade. The functional and architecturally cohesive space will also accommodate a retail gallery on the first floor. The building’s total floor space will increase from 11,100 sqm to 13,300 sqm.
The new hotel will be situated in the heart of Moscow, less than a mile away from the Kremlin and Old Arbat. Market experts suggest that demand for hotels will continue to grow off the back of the introduction of e-visas in 2021 and the general improvement in Russia’s image internationally.
Business Nedvizhimost and Cosmos Group will continue to collaborate on further ATS transformation projects. In addition to Dom Svyazi, a number of the ATS buildings owned by Business Nedvizhimost will be converted to accommodate Cosmos Stay apartment hotels.
Business Nedvizhimost is also working with Kladovkin, a Moscow-based storage facility operator, to develop up to ten self-storage facilities at existing ATS properties. The first facility covering an area of over 5,000 sqm has already been launched in Belomorskaya street, Northern Moscow.