Yar Park near Kazanka River on the site of Riviera to appear by 2027

The Investment Council of Tatarstan has approved the construction of a multifunctional complex with Yar Park congress centre on the banks of the Kazanka River at a cost of 28,7 billion rubles. The developer is the Russian group Kravt Group. The estimated area is 11 hectares.

“This is the largest of all the projects that have been considered," the head of Tatarstan Investment Development Agency, Talia Minnulina, told reporters. The developer received the land plot for construction without tender, otherwise the project would not have become profitable, and resellers could have come to the auction, she said.

The deadline for the implementation of the project is 2027, said Valery Kravtsun, managing partner of Kravt Group.

The ensemble of the multifunctional complex will include a five-star hotel complex, service apartments, a business centre, a congress centre building with a capacity of up to 5,000 people, as well as infrastructure in the form of a shopping and entertainment complex, restaurants, parking, and a recreational area.

Prior to that, Kravt Group built one hotel near Kazan Expo, and a 4-star robotic hotel complex in Innopolis is expected to be commissioned at the end of this year.

Let us remind that the St. Petersburg company Kravt Invest acquired the Riviera complex at the end of December 2020 from the bankruptcy auction of the previous owner — RK Riviera CJSC. The new owners demolished the building of the complex. Managing Partner of Kravt Group Valery Kravtsun stated that the building is obsolete and it was impractical to use it.