At the Russian Investment Forum RIF 2019, held in Sochi on February 14-15, Northern Caucasus Resorts JSC presented investment lots for the amount about RUB 41 billion to participants of the business program. Implementation of the projects is scheduled for 2019-2021 at sites of all-season resorts Arkhyz, Elbrus and Veduchi.
Investment lots of Veduchi ATRC in the Chechen Republic provide for construction of a 3* hotel, a chalet complex and an apart hotel for the total of 750 accommodation places and a SPA center intended for 150 guests simultaneously. The value of the projects is estimated at RUB 1.6 billion.
Within the second stage of development of Elbrus ATRC in the Kabardino-Balkar Republic, mountain ski and commercial infrastructure facilities are being offered to private investors for implementation: three-section gondola ropeway with throughput 3,000 persons per hour and pistes with total length of about 13 km, and also 2* to 5* hotels, cottages, restaurants and sports outlets. The planned value of facilities shall be above 21 billion rubles.
The investment proposal for Arkhyz ATRC in the Karachay-Cherkess Republic includes construction of a gondola ropeway with throughput 1200 persons per hour and 3 km of pistes thereunder, and also a restaurant with an observation site at 3170 meters on Abishira-Akhuba ridge. It is also suggested to investors to develop Dukka tourist village, the third one within the resort, including construction of apart hotels, 3* to 5* hotels, chalet complexes for more than 7,000 accommodation places. The total value of the investment lots is estimated at RUB 18.2 billion.
‘This year, we will present to the investment community a complete set of facilities at the three resorts: young Veduchi that opened a year ago, successful Arkhyz that recently celebrated the 5th anniversary since commissioning, and legendary Elbrus that the semi-centennial history of mountain ski sports in our country is associated with,’ Khasan Timizhev, the Director General of Joint-Stock Company Northern Caucasus Resorts, told.
When developing lots, according to him, the company strived to diversification of the investment offer and coverage of all categories of potential investors. Facilities with value up to RUB 500 million and payback period at least 3 years are focused on the regional business, more expensive projects with forecast payback period at least 7 years for hotels and at least 12 years for mountain ski infrastructure are focused on federal investors, including individual networks and financial groups. ‘We expect this to attract more private partners to the project of the North Caucasus tourism cluster, that is, to speed up payback of budgetary investments,’ he stressed.
‘The project has no minimum threshold, we are ready to work with micro and small business with investments to RUB 10 million, for example. All investors who received the status of resident of the special economic zone, shall get benefits and preferences established by the legislation,’ Khasan Timizhev reminded. They include free connection to utility networks in SEZ, offering land plots for long-term lease at preferential rates, preferential tax treatment, marketing and advertising support by the management company. ‘At average, this makes it possible to reduce the project implementation cost in SEZ by 20-30% compared to standard conditions,’ he concluded.