Investment plans in Mariupol: Rebuilding under Russian oversight
The development company Sadowoje Kolco plans to invest in the construction of flats in Mariupol. The planned projects may require an investment of over 3.5 billion rubles, and the sales of these flats might generate 7 billion rubles. This is the first project of its kind in Russia's occupied areas.
The Development Company Sadowoje Kolco, established by State Duma Deputy Sergei Kolunov, intends to commence construction of flats in Mariupol. According to Kommersant, the company plans to invest more than 3.5 billion rubles, and profits from flat sales could reach 7 billion rubles.
The initial project involves building a nine-storey building on Artema Street in the centre of Mariupol, which is scheduled for completion by 2026. The developer aims to develop eight sites, including locations on Shevchenko Boulevard and Admiral Lunin Avenue. According to Russian media, the total area of the proposed developments is 783,582 square feet.
According to the Ministry of Construction, 24 developers with building permits are currently operating in these new regions. Sadowoje Kolco is the first to officially announce its plans in the city, which was devastated during conflicts with Russians.
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 revealed that Russia would reconstruct Mariupol's infrastructure, including transport and housing. He also proposed an offer related to the purchase of flats for those living within 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 Ukraine.
The renowned Azovstal plant is located here, where Ukrainian soldiers bravely defended themselves against the Russian siege for an extended period. The defence of Mariupol concluded on 20 May, after nearly three months, due to factors such as a lack of drinking water, ammunition, and numerous critically wounded soldiers. Since that time, the city has been under Russian occupation.
