Kotka large-scale project, 400 million € worth, is progressing after all - hotel, outlet center, cruise route to St. Petersburg
The City of Kotka states that the large-scale port project is finally moving forward after all the controversial issues and disputes are settled.
International group of companies plans to build a huge project called Kotka Old Port, demanding investments of up to 400 million euros, which would include a cluster of outlet stores, entertainment elements, hotels and an international cruise port. “At the same time we are also searching for the opportunities to organize a cruise route between Kotka and St. Petersburg,” the group representative said at the today's press-conference.
The project had an obstacle on its way - a complaint by the ESS Warehouse and the decision was to be made by the City planning authorities. However, Cameron Sawyer, the developer of Kotka Old Port, told reporters today at the press conference that the dispute had been settled and the parties had agreed to cooperate. “We had constructive negotiations with Samuel Sterling, ESS Warehouse Managing Director, and we have resolved all the issues between us. We have reached a solution that is beneficial to all parties, especially to the inhabitants of Kotka, who are eagerly waiting for the project start because it will bring jobs and economic strength to the city,” Cameron Sawyer explained.
Kantasatama district, where the project team is going to create an "experiential" entertainment destination, is a historic port area in the center of Kotka. The developer of Kotka Old Port is Cameron Sawyer's real estate company GVA Sawyer. The project team also includes Milligan Retail, the company focusing on commercial real estate and outlet development in Europe.