MOSCOW, December 26. /TASS/. A business resident of the Russian Federation's Arctic Zone, the Geographical Discovery Society, will build a glamping on the shore of Lake Imandra in the Murmansk Region's Monchegorsk by 2027, the Far East and Arctic Development Corporation's press service said.

"The Geographical Discovery Society, a resident of the Russian Federation's Arctic Zone, will build a glamping on the shore of Lake Imandra in the city of Monchegorsk, the Murmansk Region, under an agreement with the Far East and Arctic Development Corporation," the press service said. "Investments in the project will make 27.3 million rubles ($274,000). The glamping will start operating by 2027."

The tourist complex will unite ten domed houses each to accommodate up to four people, a sauna, a geo-dome restaurant and a pier.

"Nowadays, our region is one of the most visited regions in the Arctic. The Murmansk Region offers skiing, and hiking, and relaxing by the water, and a whale watch, and getting acquainted with the Russian fleet - our corporation welcomes the interest from tourists and we create comfortable conditions for businesses willing to invest in this sector of the economy," the press service quoted director of the corporation's branch in Murmansk Alexander Shutov as saying.

Business residents in the Murmansk Region enjoy 75% subsidized insurance premiums for the first 10 years; a 5% income tax rate and a zero property tax rate for the first five years. For the first three years, the business residents are not liable for the land tax.

The Far East and Arctic Development Corporation has agreements with 884 Arctic business residents, where investments in 226 projects in various sectors are planned at 996.52 billion rubles ($9.8 million). New companies are to create 28,620 jobs.