MAKHACHKALA, April 28 – RIA "Dagestan." The large-scale investment project known as Lazurny Bereg (Azure Coast) has been showcased at the Caucasus Investment Forum. This project represents a multifaceted regional development strategy, encompassing the construction of residential complexes, hospitality establishments, social amenities, public recreational areas and utility networks within a territory spanning over 210 hectares.
Endorsed by the Russian government, the project was formally introduced at the national level by Sergei Melikov, Head of Dagestan. Strategically, Lazurny Bereg is positioned to become a complementary urban center to Makhachkala metropolitan area.
The execution of this initiative will be conducted under continuous supervision from both federal and regional governance bodies. Financially, the infrastructure and budgetary loans associated with the project are designed to be serviced through tax revenues generated from the development’s economic activity.