Makhachkala, April 7, 2019. A hotel complex "Caspian Plaza" LLC will be constructed on the territory of advanced socio-economic development "Kaspiysk". The corresponding changes were made on March 12 to the list of registers by the Ministry of Economy of Russia.

The agreement on implementation of the investment project “Construction of a modern hotel complex and apart-hotel Caspian Plaza with an aquapark and marina” worth 3.2 billion rubles has recently been signed. The project is expected to create 147 new jobs in the region.

The territory of advanced social and economic development (TOSED) is an economic zone with favorable tax conditions, simplified administrative procedures and other privileges in Russia, created to attract investments. The residents of TOSED receive preferential rates on taxes on property and profits, the percentage of mandatory tax deductions to extra-budgetary funds is reduced. In Dagestan, there are two such territories - "Kaspiysk" and "Dagestanskiye Ogni".