Construction of the Caspian Coastal Cluster is proceeding according to schedule.
A meeting on the implementation of the Caspian Coastal Cluster project was held in Makhachkala. The event was chaired by Deputy Minister of Economic Development of the Russian Federation Sergey Nazarov and Acting Head of the Republic of Dagestan Fyodor Shchukin. Andrey Yumshanov, CEO of Kavkaz.RF, delivered a report.
Currently, the design of six of the resort's seven facilities has been completed; design documentation for an additional facility—a drainage canal—is being developed. Construction work is actively underway at five sites: the service center, road network and parking, utilities, and coastal improvements.
To manage the ongoing construction on the coast, a Kavkaz.RF office has been opened, a construction headquarters has been established, and daily planning meetings are being held. During an inspection of contractors, Andrey Yumshanov confirmed that the work is progressing according to the approved schedule.
The Caspian Coastal Cluster project is being implemented as part of the "Five Seas and Lake Baikal" national project and is under the supervision of the President and Government of the Russian Federation. The project targets include the creation of over 7,000 hotel rooms by 2030; Kavkaz.RF is responsible for constructing all necessary infrastructure and performing landscaping.
The total project funding is 24.6 billion rubles, of which 14.4 billion rubles are allocated under the state "Tourism Development" program, and the remainder is being financed by other relevant state programs and Kavkaz.RF's own funds.
Particular attention was paid during the meeting to interactions with residents of the special economic zone—the project's private investors. Currently, 16 agreements have been signed with residents, and another 15 are being developed. The planned projects will create 7,200 rooms; the resort's total capacity is expected to reach 8,200 rooms by 2034. However, only one resident is preparing to begin construction this year, while the majority of accommodation is scheduled for completion in 2028.