Sochi 2014 Promotes Investment At Real Estate Conference

Sochi projects, including its Olympic facilities' projects, are on view at the display stand of the Krasnodar Territory in the Azure Pavilion at the 20th international market of real estate professionals and investors (MIPIM-2009) in Cannes France, which opened Tuesday.

Russia's delegation is headed by Dmitry Kozak, Russia's Deputy Prime Minister. The delegation includes representatives of all organizations responsible for the delivery of Sochi 2014 and the associated regional transformation.

Kozak told the delegates at the conference, attended by professionals in the field of real estate as well as urban and regional officials, of the impressive investment opportunities in the Krasnodar Region.

He also shared with the delegates the Russian Government's commitment to ensure that Sochi 2014 leaves a legacy of sustainable economic development for the entire region and highlighted that this will be achieved through the development of state-of-the-art infrastructure and facilities that will lead to a boost in the region's economy.

The Sochi 2014 delegation presented a range of potential investment opportunities on offer in a variety of sectors, including tourism developments such as the five star Maly Akhun Hotel Complex and developments within the Gornaya Karusel tourist resort; energy developments, including the Kudepsta Thermal Power Station; and sports venues like the Main Olympic Village and the Large Ice Hockey Arena.

Kozak said, "the Russian Government is committed to ensuring that developments associated with Soch 2014 and the related regional transformation are commercially successful. The real estate investment opportunities we have shown delegates at MIPIM can be adjusted to meet the needs of international investors. This will allow development partners to contribute their expert knowledge and ensure that each project offers an excellent commercial opportunity before, during and after Sochi 2014".

Dmitry Chernyshenko, President and CEO of Sochi 2014, told the conference of the Organizing Committee's plans to leave a sustainable legacy from Sochi 2014 through the implementation of the "Sochi-Home City" program, which involves a comprehensive redevelopment of many aspects of life in Sochi to ensure Russia's first Winter Games brings continuing benefits long after 2014.

He told the delegates that the "Sochi-Home City" program will enhance the real estate opportunities available in the Krasnodar Region, which will be achieved through a variety of projects including implementing Sochi 2014's Olympic Transport Plan to ensure that Sochi operates a fully integrated transport system; and the development of environmental and waste management projects that will ensure Sochi and the Krasnodar Region operate policies of environment best practice.