Krasnodar, 23 August – Yug Times. A string of high-end hotels will appear in the Lazarevsky and Khosta Districts of Sochi. 

Tripartite investment letters of intent were signed last week by Krasnodar Region Governor Veniamin Kondratiev, Sochi Mayor Aleksei Kopaigorodsky, and the investors: Arbat Hotel Management LLC, Yakornaya Shchel Specialised Developer JSC.

“We try to create comfortable conditions for investors in the resort sector. At the regional level, we have restricted housing construction in the 500-metre coastal zone, and introduced property tax privilege for 10 years,” said Veniamin Kondratiev. As part of the signed protocol, in 2027 in Yakornaya Shchel, Lazarevsky district a 2,200-room fourstar hotel complex will be built, operating under the Ultra All-Inclusive system. Together with its swimming pools, a park, sports and children’s zones, restaurants, gym and a beach, the investment project will provide jobs for 2,500 employees.

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