"LSR Group" will invest ₽25 billion rubles in the Sochi sanatorium and boarding house

About 25 billion rubles of investments will be invested in the restoration and modernization of two places of accommodation in Sochi - the Volna sanatorium and resort complex and the Kristall boarding house. The HEAD of Sochi Alexei Kopaygorodskoy announced this in his TELEGRAM.

“The investor plans to invest in the reconstruction of the historical ensemble of the Volna HEALTH resort complex and the modernization of the Kristall boarding house in the Khostinsky district. They will be combined into a complex with 700 rooms. A medical and recreational base will be restored here. A new medical center will also be located on the territory. The accompanying infrastructure will also be developed. A major transformation of the beach and the coastal strip is planned, ”wrote Alexei Kopaygorodsky.

Reconstruction works are planned to be completed by the end of 2024.

Earlier, RBC Krasnodar reported that the project documentation for the Kristall boarding house was ready; in March 2022, it was at the stage of passing the state examination.

The federal developer LSR Group will be responsible for the restoration and modernization of two locations in Sochi.

Recall that the developer LSR Group became the owner of Kristall in June 2021, in August of the same year he acquired the Volna sanatorium. The transaction amount was estimated at 600 million rubles.

According to RBC Company data, Volna Sanatorium JSC was registered in 1993. General DIRECTOR - Igor Lipovetsky. The company has been unprofitable for the fifth year in a row. At the end of 2021, the net loss amounted to 20 million rubles.

As stated on the company's website, LSR Group has been operating in the real estate market since 1993, including housing construction. The main business of the company is concentrated in St. Petersburg and the Leningrad region, in Moscow and the Moscow region, in Yekaterinburg.

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