MAKHACHKALA, October 28 – RIA "Dagestan". Investment in the "Caspian Coastal Cluster" resort project in Derbent District of Dagestan will exceed RUB 100 billion, up from the roughly RUB 70 billion in private capital initially envisioned, Acting Tourism Minister Emin Merdanov is quoted as saying.
Investment agreements totaling RUB 61.2 billion have been signed and 12 investment lots remain available. The 400-hectare resort is transitioning from planning to active implementation.
The master plan provides for 28 hotels and sanatoriums with 7,200 rooms, 6 kilometers of improved coastline as well as family parks and recreational zones. Sixteen investors across 18 projects have obtained SEZ resident status. Land lease agreements have been finalized.
As to Merdanov, supporting infrastructure is proceeding in parallel. Kavkaz.RF will allocate RUB 14.4 billion for internal cluster infrastructure through 2027 under the "Five Seas and Lake Baikal" project, while the republic will direct RUB 4.4 billion toward road connectivity from the federal highway. Six of seven facilities have passed state expert review, contracts are signed and construction is underway. Under the concessional lending program, RUB 16.5 billion in project financing has already been approved for cluster residents.