Brief Project Description
The land plot comprising 115 ha planned to be purchased for the Tourist Entertainment Complex development is located off the conventional tourist zones in a rather prospective tourist area, in which the high tourism zone is being projected under the General Plan; being located right along the 2,000 m sea coastline with the width of 500 to 600 m, the site provides beautiful sea views; partially sandy and mainly rocky coast with a heavy gradient over a length of 350 m from the sea and comparatively plain 150 m wide plateau (in the upper part); similar to the neighboring lands, the land plot has no infrastructure; communication utilities are available within the distance of 10 km, unpaved road is available, the distance to the highway is 15 km; nearby there are several villages with rural inhabitants who can be involved in the activities related to operation of the Tourist Entertainment Complex.
Being of a large-scale format the product will have relatively low weight of communication costs due to its large-scale format, provision of the series of options and amenities that are not generally available in case of small-scale projects including remoteness from ‘fossil' resort areas, new engineering and transport solutions, infrastructural adequacy with regard to culture and shopping and leisure services, international level of servicing and services, European Standard quality of fit-out and equipment of buildings, contemporary architecture; the Project provides that the Tourist Entertainment Complex will comprise four zones:
Thus, the Project is focused on creation of a new up-to-date health resort village with high level of communications and servicing, as a tourist and leisure, cultural and historical complex with dacha holiday facilities for 10,000 holiday-makers; being unique among the existing installations of the competitors, the Project will provide European Standard quality buildings constructions with total area of 511,250 sq. m (including 449,250 sq. m of residential space and 62,000 sq. m of retail space).
The Project will provide European Standard quality buildings construction with total area of 511,250 sq. m (including 449,250 sq. m of residential space and 62,000 sq. m of retail space) in compliance with contemporary architectural criteria - the Tourist Entertainment Complex zones comprise the following primary elements:
Seven years, including preparatory period, project design period, approvals, arrangement of external financing - 1 year, construction period - 2 years, selling period - 2.5 year according to the schedule, reserve -2 years.
Inputs: 328 Mio Euros (including Start-up Capital: 67.0 Mio Euros, External Borrowings: 261.0 Mio Euros), Net Present Value of the Project at a Discount Rate of 15% - 549.0 Mio Euros, RCA = 259%.
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