The retail development of the Kalugangan is yet to begin.
But it looks like the construction of a hotel and apartments complex will soon begin, with the Kaluga-based project company, Kaluga Development Project, on track to complete its $1.8 billion project development analysis report, according to reports from the local and national media.
The project has already started to develop the land around the new retail development, with some of the property set aside for development purposes.
It is understood that construction of the hotel is already under way, with construction likely to start next month.
The $1bn retail development in Kaluga has been in the works for some time.
However, a number of issues have been raised with the project, including concerns over the viability of the project and the availability of funds to fund it.
Kaluga Development is the project management company of the company behind the proposed retail development at Kaluga.
Kaluga is also the project development management company for the Kalugeo-Kurungang development project.
The new retail project in the area is likely to be the first retail development since the state government’s plan to develop an entire state of Kalugang, with around 3,000 units of housing, is expected to begin in 2021.
The proposed retail project is expected come to fruition within three to four years.
With the planned retail development to begin next year, the project is on track for completion by 2022.