Name of the Project

Brief description of the physical area:


  • Location – city of Uglich of the Yaroslavl Region
  • Distance to Yaroslavl (administrative center of the Yaroslavl region) – 100 kilometers, distance to Moscow – 220 kilometers
  • Building area – 30 ha


One of the ancient Russian towns – Uglich – was founded in 937 and now it is one of the most attracting and famous towns of the Golden Ring of Russia. Town’s population makes up 37 thousand people. Tourism in the town actively develops, which is presupposed by cultural, historical and architectural advantages, good geographical location, and profitable recreational possibilities.

The town is situated on the Volga river, which has long served as a unique tourist brand of Russia. Tourist infrastructure of Uglich includes 9 hotels, 11 museums, and 6 restaurants. In 2006 about 200 thousand tourists visited the town.

At the present time the town is being actively zoned according to tourist needs.

Brief description of the project

In the bounds of the present project the ancient street in the historical central part of Uglich will be reconstructed: a united pedestrian system of downtown will create comfortable conditions for tourists and city-dwellers visits to the tourist and recreational area. Creation of pedestrian area is a profitable financial investment, because facilities and buildings that are situated in the pedestrian area will serve for establishment of restaurants, cafйs, museums, entertainment complexes, shopping centers and so on.

The street under project is unique: it is of historical and architectural interest, its location along the bank of the Volga river is really advantageous, it connects downtown with several tourist objects that lie in the immediate proximity to the street.

Complete restoration, including resettlement of old dwelling houses, restoration of buildings, replacement of pavement road surface, organization of small architectural forms and elements of landscape design, will create an effect of stepping into history and a change from one historical epoch to another. A specifically created ideology of street restoration in a unified style, which includes strict planning of visitors flow, allocation of tenant’s establishments (leisure and entertainment centers, museums, cafйs, hotels), street trading places, will greatly increase its attraction and provide safe conditions for investments.

Form of the project realization:

Open Joint Stock Company will be established; its share will be distributed among investors. OJSC will buy facilities and buildings, land from private persons (municipal property and land will be transferred by the Uglich Municipal District as a deposit to authorized capital stock of OJSC). OJSC will create or hire a Management Company, which will manage the project and search for tenants. Return of investments will be realized through revenues of rent and other earned revenues of the Management Company.


Estimate cost of the investment project: 30 million Euros

Volume of investment required: up to 80% of the project cost

Time period for the realization of the project: up to 2010

Payback period of the project: 6 years

Initiator of the investment project

Administration of the Uglich Municipal District of the Yaroslavl Region

Address: Russian Federation, 152615, Yaroslavl Region, Uglich, Uspenskaya Square, 2

Head: Eleonora Sheremetyeva, Head of the Uglich Municipal District

Contact person: Elena Kaneva, Deputy Head of the District

Telephone/fax +7 (48532) 4-14-30, E-mail: