The Prime Minister stated that the aim is not merely to generate as much revenue as possible for the budget, but also to realise the property’s economic potential by creating new jobs, boosting the economy and modernising the capital’s city centre.
“It is a hotel with far greater potential than is currently being realised. We are seeking investors who wish to take part in a transparent tender for this truly unique asset,” said the Prime Minister.
The Prime Minister emphasised that the authorities aim to attract as many bidders as possible, so that the state can secure a favourable price and the property can be developed to its full potential.
The Public Property Agency is accepting bids from investors until 19 October. At the same time, young architects and creative professionals are invited to submit, by 4 October, concepts for the design of the future ‘Zarea’ Hotel.
As Logos Press previously reported, under its current business model, the hotel is recording a net margin of 1–2 per cent, well below the market average for hotels in the capital, estimated at 15–25 per cent. At the same time, the property, situated in the centre of Chișinău, is considered an asset with high investment potential. The hotel stands on a 31-ari plot, has 12 storeys and a floor area of over 6,000 square metres, and is situated in the historic centre of the capital, near ASEM, Cathedral Park and the National Bank.
Possible development options include hotel operations, an aparthotel, office space, retail space or mixed-use developments incorporating various services.
This story was translated with the assistance of artificial intelligence.The translation was also reviewed by the Logos Press editorial team.
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