Plans are underway to build a recreational complex near Kara-Dag in Crimea at a cost of over $125 million
Plans are underway to build a large-scale recreational complex in the temporarily occupied town of Koktebel, at the foot of Mount Kara-Dag, with a total investment of approximately $125 million. A corresponding memorandum was signed during the St. Petersburg International Economic Forum between the Russian-controlled Crimean authorities and the company LLC “SZ “Forum-Chaika.”
According to the project, hotels, villas, townhouses, guest houses, and resort residences are to be built on an area of over 76,000 square meters. The project is expected to take ten years to complete.
The Russian Ministry of Economic Development of Crimea states that the architectural concept involves terraced development integrated into the natural terrain, which will allegedly avoid dense construction and preserve the area’s appearance.
Currently, the project team is in negotiations with potential hotel operators. Once a partner is selected, the concept is planned to be refined according to their requirements.
The developer, Forum-Chaika LLC, is registered in Sudak. Its authorized capital is approximately $400,000, and its founder is Eduard Grivkovsky.
Prior to the occupation of Crimea, one of the company’s founders was the Kyiv-based firm “MDM-INVEST-SYSTEM.” In addition to this business, Grivkovsky is a co-founder of 14 other companies, some of which operate in the construction and development sectors.
From 2006 to 2014, Eduard Gryvkovsky served as a deputy in the Crimean Supreme Council for the pro-Russian “Union” party and also held the position of first deputy chairman of the Council of Ministers of the Autonomous Republic of Crimea.
Ukrainian media have previously reported on his ties to Crimean politician Lev Mirymsky. The businessman’s brother, Vadym Gryvkovsky, was a member of the Ukrainian Parliament representing the “Labor Ukraine” party.
Eduard Gryvkovsky’s name was also mentioned in journalistic investigations regarding the development of Lake Moinaki in Yevpatoria.
In January 2018, the Security Service of Ukraine issued a warrant for his arrest. The businessman was charged with treason.
The new project is drawing additional attention because construction is planned near Kara-Dag—a unique natural massif and protected area considered one of Crimea’s most valuable natural landmarks.
As a reminder, the fuel shortage previously observed in the temporarily occupied Crimea has begun to spread to the southern regions of Russia. Residents of the Krasnodar Krai and Rostov Oblast are reporting shortages of gasoline and diesel fuel.
