Kislovodsk development

History

2024: Establishing a Company

The Agrokom holding, owned by Rostov businessman Ivan Savvidi, has registered a new development company Kislovodsk Development LLC in Kislovodsk. The holding's revenue in 2023 amounted to ₽29 billion. This became known on October 23, 2024. The ultimate beneficiary of the company is Kiryaki Savvidi, and Sergey Sapotnitsky has been appointed head.

According to "City N," the first project of the new company will be the reconstruction of the Communication House in the center of Kislovodsk. Investments in the creation of a five-star hotel complex will amount to ₽4,6 billion.

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Freepik

The building of the Soviet Communications House with an area of ​ ​ 6.3 thousand square meters, built in 1971 in the style of Soviet modernism, will be transformed into two buildings with a height of 13 and 14 floors. The total area of ​ ​ the new complex will reach 36 thousand square meters.

The head of Kislovodsk, Yevgeny Moiseev, confirmed that the project received the support of the urban planning council. The new complex is planned to accommodate 243 rooms of various categories: 168 standard, 24 junior suites, 6 suites and 45 apartments.

Ivan Savvidi, whose fortune is estimated at $1.4 billion, is actively developing the hotel business. In 2022, the Hyatt Regency Rostov-Don Plaza hotel was opened in Rostov-on-Don, and in September 2024 it became known about the acquisition of the Moscow Imperial Park Hotel & Spa hotel for ₽3,6 billion.

In addition to the hotel business, Agrokom holding owns the Tavr plant, which produces 50 thousand tons of meat and sausage products annually, two enterprises for the production of barrier film, as well as assets in agribusiness.

The new company received permits to carry out design, electrical and finishing work, as well as to manage utilities and parking lots. The project for the reconstruction of the Communications House is scheduled for two years.^[1]

Notes