The Business Territory fund continues to offer insight on its investment projects in the Chelyabinsk Region. This section is dedicated to the massive real estate development project called Attraction. This project is carried out in Magnitogorsk. The idea was put forward by Viktor Rashnikov, the Chairman of the Board of the Director of Magnitogorsk Iron and Steel Company (MMK).
The project is currently at the stage of designing primary buildings, construction of road and engineering infrastructure, and finding partners for subsequent management and maintenance of property.
This is a project of unprecedented proportions for Russia. Its objective is to create a single space for modern sporting arenas, museums, education, cultural, and entertainment facilties etc. The total area of territory under development is 400 hectares. An artificial lake, an indoor amusement park, a fitness center with a 50-meter swimming pool, a pedestrian area, and phase one of the park will have been completed-by 2022 or 2023. In 2024, a sports arena, a freestyle arena, and a four-star hotel owned by one of the international hotel chains will be put into operation. The planned deadline for the construction of the main facilities is 2025. The construction will be complete with the launch of a museum and an educational facility, which will include the world museum of metallurgy, exhibition and educational spaces, as well as thematic open-air exhibitions. The investments in this project are estimated to be about 25 billion RUB, and more than 1,500 jobs will be created.
Photo by: Magnitogorsk Iron and Steel Works
The project has been supported by the Business Territory fund since the end of 2018. Our experts have advised investors on a range of support measures and helped to send a request to the Ministry of Transport of the Russian Federation to create a road infrastructure for the park. It is planned to interact with the Government of the Chelyabinsk Region to further stimulate investment on the federal level.
Here is what Ruslan Novitsky, the CEO of Territoriya Prityazheniya (Attraction Territory), had to say regarding this cooperation: "The Business Territory is providing us with information support as the project is being implemented. Fund's experts helped us start work on obtaining tax preferences, and now they offer us support in interactions with federal executive authorities. It is very valuable that an investor implementing their project in the Chelyabinsk Region may have the state as their partner."
Anna Komarova, the investment director of the Business Territory fund: "The scale of this project is impressive in so many ways. The Chelyabinsk Region plenty of economic benefits when the project facilities are put into operation. This project will also bring new opportunities for work and recreation for both adults and children, as well both for the residents of Magnitogorsk and visitors of the Chelyabinsk Region. We are happy to participate in the project and are willing to continue offering our support."