The commission of the Ministry for the Development of the Russian Far East and Arctic has granted resident status in the Arctic Zone of the Russian Federation to subsidiaries of three federal property developers for housing construction projects in the Murmansk Region, according to the regional Ministry of Information Policy, RBC reported.

'Glorax's subsidiary, SZ Kastor LLC, plans to invest RUB 11.3 bn in the construction of residential buildings in Murmansk, new resident SZ TSD Arktika LLC—RUB 22.5 bn, and Samolet-Regions' subsidiary SZ Project-S-79 LLC—RUB 10.4 bn. All companies are registered in the Murmansk Region,' the department commented.

Earlier, the Murmansk Region defined criteria for housing construction investment projects eligible for the status of particularly significant projects and for obtaining land plots without tenders. The document, among other things, amends existing regulatory legal acts and determines the procedure for granting the status of a particularly significant investment project.

As previously reported, about 1 mn sq m of housing are planned to be built in the region over the next 10 years. Contracts have already been signed with major federal developers for the construction of 600,000 sq m. These include developer GloraX, the Samolet Group and specialised developer Transstroydevelopment.

Image attribution: Shutterstock