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Arkhangelsk Region to invest $109 million in housing construction program

In 2024, the region, supported by the Russian government, organized its first advanced-development territory - the Capital of the North, the governor continued

ARKHANGELSK, April 24. /TASS/. Investments in the Arctic Quarter housing construction program's infrastructures in the Arkhangelsk Region will be almost 9 billion rubles ($109 million), Governor Alexander Tsybulsky told the regional legislators as he delivered a five-year report.

"The Arctic Quarter program, an analog of the Far Eastern program, is being launched within the framework of the advanced-development territory," he said. "We will be the first Arctic region to launch this program. The plan is to build 200,000 square meters of housing for 6,000 people, including for those who will move from emergency houses. Investments in infrastructures will be almost 9 billion rubles."

In 2024, the region, supported by the Russian government, organized its first advanced-development territory - the Capital of the North, the governor continued. The plan for the first stage is to launch an industrial park and a site with ready infrastructures for business residents. Investments are expected at about 3 billion rubles ($36 million), and about 200 jobs will be offered. The Capital of the North's business residents plan modern transport and logistics centers and ship repair facilities. "These projects will complement the tasks to develop the Northern Sea Route," the governor added.

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