Construction of IT city in Dagestan could attract nearly RUB 100 billion

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Businessmen are expected to invest up to 100 billion rubles in the construction of an IT city on the shores of the Caspian Sea by 2036. According to Vyacheslav Utochkin, the author of the project (Geeky House), this amount of investment is required from both investors and relevant government programs.

In June 2024, at the St. Petersburg Forum, the company signed an agreement with the Government of Dagestan for the construction of an IT city. The city will become a hub for IT talents in the entire Northern Caucasus, providing a fully functioning living environment. It will be equipped with all necessary residential, social, transportation and business infrastructure, covering an area of approximately 300 hectares.

Currently, the location and boundaries of the construction project site are being finalized. The preliminary master plan is being developed. Utochkin noted that Dagestan was selected as the preferred location for the project due to its pleasant climate, available housing, and proximity to the sea, which were factors that were considered by the specialists interviewed.

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