Arctic Hectare program's 18% participants use land plots for doing business

Business & Economy November 14, 9:11

Arctic business residents are implementing more than 150 investment projects in tourism with investments of $590 million, with 2,600 new jobs

MOSCOW, November 14. /TASS/. About 18% of the Arctic Hectare program participants use the received land plots for doing business, press service of the Ministry for Development of the Far East and Arctic told TASS.

"18% of the Arctic Hectare program participants use received land to implement projects, including to make various recreation centers and other tourist service facilities," the press service said.

According to the press service, Arctic business residents are implementing more than 150 investment projects in tourism with investments of 48 billion rubles ($590 million), with 2,600 new jobs. "Major projects include Valla Tunturi in the Murmansk Region, Phosagro's Bolshoy Woodyavr resort in the Khibiny, Segezha Nord in Karelia, and the Norebo ski complex in the Murmansk Region," the press service added.

The Far Eastern Hectare state program began in 2016. In 2021, it was extended to land plots in the Russian Federation's Arctic Zone and other territories of the North and Siberia (the "Arctic Hectare"). Under the Arctic Hectare program, a Russian national may receive for free a land plot to farm on it, build a house, or develop tourism.

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