Investment surge: Russian developers eye Mariupol rebuild
The development company "Sadowoje Kolco" plans to invest in the construction of apartments in Mariupol. The planned projects may require over 3.5 billion rubles, and apartment sales may generate 7 billion rubles. This marks the first such project in areas occupied by Russia.
The development company "Sadovoye Koltso" founded by State Duma Deputy Sergei Kolunov, will commence building apartments in Mariupol. According to "Kommersant," the company plans to invest over 3.5 billion rubles, with potential profits from apartment sales reaching 7 billion rubles.
The first project involves constructing a nine-story building on Artema Street in the centre of Mariupol, slated for completion by 2026. In total, the developer aims to develop eight locations, including Shevchenko Boulevard and Admiral Lunin Avenue. The total area of the planned investments is approximately 72,804 square metres, as reported by Russian media.
According to data from the Ministry of Construction, currently, 24 developers with building permits are operating in the new regions. "Sadovoye Koltso" is the first to publicly announce its plans in the city devastated by the conflict.
Propaganda reconstruction plan
Russian experts predict that developers can anticipate government support, including subsidies and preferential loans.
In 2023, Russian Deputy Prime Minister Marat Khusnullin presented Vladimir Putin with a "reconstruction plan" for Mariupol.
Khusnullin announced that Russia would rebuild, among other things, transport and housing infrastructure in Mariupol. Simultaneously, he proposed an offer for the purchase of apartments for people living in the territories of Luhansk and Donbas.
Before the Russian invasion of Ukraine, Mariupol was the tenth largest city in the country by population. Situated by the Sea of Azov, it held strategic importance for Ukrainians.
This is where the renowned Azovstal plant is located, where Ukrainian soldiers bravely defended themselves for a prolonged period against the Russian siege. The defence of Mariupol ended on May 20, after nearly three months, due to, among other factors, a lack of drinking water, ammunition, and numerous severely wounded soldiers. Since then, the city has been occupied by Russian forces.
