Economy
Discovering the wealth of the North
Read moreOlkon, a resident of the Russian Arctic Zone, is developing the Pechegubskoye field
Investment Portal of the Arctic Zone of the Russian Federation
AZRF resident to build a fairgrounds complex in Arkhangelsk
13.03.2023 // In March 2023, a new resident company, Russkie Yarmarki Arkhangelsk, was registered in the Arctic Zone of the Russian Federation. It plans to build a large fair and entertainment complex in the city where hundreds of so-called merchants will display their wares—agricultural and industrial products, arts and crafts. This is what Russkie Yarmarki calls its business partners, following an old tradition.
'The company aims to revive fair trade in Russia so that people can learn about the traditions of a particular region through the products of local producers and craftsmen. Product prices will be available to all customers,' says Leila Menshikova, General Director of Russkie Yarmarki Arkhangelsk.
»Where else to revive fair traditions than in Arkhangelsk! The city, the first Russian seaport and the merchant capital of Pomorie, was famous for its fairs back in the 16th and 17th centuries. The biggest fairs of Arkhangelsk Province were known throughout the world: Margaritinskaya in Arkhangelsk, Nikolskaya and Blagoveshchenskaya in Pinega, Kreshchenskaya in Mezen. And how many other smaller trades were operating in almost every village in Pomerania!
There are now large markets in the Arkhangelsk Region—in the regional capital, in Severodvinsk, in Kotlas. The Russkie Yarmarki complex will feature orderly and transparent trading and meet modern sanitary requirements.
It is already known that the fairgrounds will open in the Mayskaya Gorka district of Arkhangelsk, a young and actively under construction, so that along with retail space, future tenants will immediately get thousands of potential customers.
A plot of 40,000 sq m has been allocated for construction. The building, styled as an old Russian fortress, will house 320 pavilions in the form of terems with 20 sq m of floor space each. Their layout will also be traditional, just as in the olden days: a large market square in the centre, surrounded by merchants' rows. Warehouses will also be fitted out for the merchants' goods.
The complex also has space for a gastromarket, cafés and restaurants, a stage, an ice rink, event and children's playgrounds, as well as amusements. The new Arkhangelsk fair will host holidays, festivals, workshops, theatrical, business and educational events. The investor company will also improve the area around the fairgrounds.
The project uses a company-developed IT platform to connect entrepreneurs and buyers (for example, to sell products in bulk, organise auctions, get tips on the best price, promote products), tenants and landlords. The platform makes it possible to implement electronic document management, automate a significant part of business processes, obtain a bank loan and use it right there on the platform, insure goods, etc.
'The fairgrounds' tenants will have access to cash management, acquiring, legal and other services thanks to the Russkie Yarmarki' "branded" platform. As a result, each of the entrepreneurial projects will get the best logistical support,' says Leila Menshikova.
»'It is planned to allocate an area of 40,000 square metres within the city so that as many local residents and visitors to Arkhangelsk as possible could visit the fair. According to the schedule, the investor will start the design and survey work in the third quarter, and the construction and installation work is planned to start in 2024,' said Vladimir Gudkov, Deputy Director of the Department for Arctic Zone Investment Projects Support in FEDC.
Russkie Yarmarki is building a network of year-round fairs in regions of Russia from the Far East to the North West. Within a few years, fairgrounds are to be opened in 170 cities with populations over 100,000. Their total area will be 4 mn sq m. The complexes will become points of attraction for locals and tourists and ultimately good support for entrepreneurs. The main aim of the project is to recreate the traditions of a Russian fair in a format that combines trade, education and entertainment.