Russian developer launches major housing project in Mariupol
The real estate development company Sadowoje Kolco is set to invest in building housing in Mariupol. The planned projects may involve expenditures of over 3.5 billion rubles, and the sale of apartments could generate 7 billion rubles. This marks the first such project in Russia's occupied areas.
The development company "Sadowoje Kolco," founded by State Duma Deputy Sergey Kolunov, will begin constructing housing in Mariupol. According to “Kommersant,” the company plans to invest over 3.5 billion rubles, and profits from apartment sales could reach 7 billion rubles.
The initial project is the construction of a nine-story building on Artema Street in central Mariupol, which is expected to be completed in 2026. The developer plans to work on eight locations, including Shevchenko Boulevard and Admiral Lunin Avenue. According to Russian media, the total area of the planned projects amounts to approximately 784,000 square feet.
According to the Ministry of Construction, 24 developers with building permits are operating in the new regions. Sadowoje Kolco was the first to publicly announce its plans in the city devastated by Russia.
Propaganda reconstruction plan
Russian experts predict that developers might receive government support, such as 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 transport and residential infrastructure in Mariupol. He also proposed options for purchasing apartments for people living in the territories of Luhansk and Donbas.
Before Russia invaded Ukraine, Mariupol was the tenth-largest city in the country by population. Located on the Sea of Azov, it was strategically important to Ukrainians.
It is here that the famous Azovstal plant is located, where Ukrainian soldiers heroically defended themselves against the Russian siege for an extended period. The defense of Mariupol ended on May 20, after nearly three months, due to a lack of drinking water, ammunition, and many seriously wounded soldiers. Since then, the town has been occupied by the Russians.
