Maltese company IHI began to demolish the buildings, adjacent to the "Nevsky Palace"

Maltese company International Hotel Investmens proceeded to demolish the buildings adjacent to the "Nevsky Palace". In their place will be built new. The owner is going to turn it into a center of congress tourism. The house will be equipped with 55 150 more rooms "suite", but in the house 59 there will be a conference center, fitness center and shopping mall. Construction of the complex will be completed by mid-2007. Total investment in the project - $ 45 million. Permission to demolish was obtained after experts examined the building and found that they could just collapse on the Nevsky Prospect.