May 13, 2016

Finland: Kotka Old Port development project by GVA Sawyer, our Russian partner

GVA Sawyer’s large development project, Kotka Old Port, in Finland has seen some major progress in the last couple of weeks. The City of Kotka stated that the large-scale port project is finally moving forward after all the controversial issues and disputes now being settled.

An international group of companies have been planning to build a huge project called Kotka Old Port, demanding investments of up to €400 million, which will include a cluster of outlet stores, entertainment elements, hotels and an international cruise port. “At the same time we are also searching for opportunities to organise a cruise route between Kotka and St. Petersburg,” the group representative said at the press-conference in April.

The project had an obstacle in 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 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 to 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 centre 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.

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