During a media briefing, Agalarov Development President Emin Agalarov and ATLAS Development Founder Vladimir Gorodenker spoke about the companies’ growing partnership and their first joint projects in resort destinations across Russia and Azerbaijan. The collaboration currently includes two projects in Sochi and a future development within Sea Breeze in Baku.
The partnership is focused on the development of hospitality, service, and resort infrastructure, as well as the creation of projects with strong investment potential. It combines Agalarov Development’s expertise in large-scale development, resort real estate management, and integrated territory planning with ATLAS Development’s strengths in creating premium, highly detailed real estate products.
According to Vladimir Gorodenker, one of the key factors behind the partnership is the scale of Agalarov Development’s projects and the company’s long-term approach to territorial development. He noted that Sea Breeze, the resort city on the Caspian coast, particularly impressed him as a project capable of shaping an entirely new urban environment for decades to come.
ATLAS Development contributes extensive expertise in creating meticulously designed projects where special attention is given to product quality, customer experience, architectural solutions, and service standards. Both companies see significant value in combining these competencies to benefit investors, future residents, and guests alike.
The first project is BENEFIT Sochi Sea Breeze, a hotel complex located in central Sochi. Situated between two parks and just 500 meters from the coastline, the development currently offers a limited collection of 50 rooms. The total project area is 3,000 sq. m. Final interior finishing works are now underway, with the opening scheduled for December 2026. The concept features fully turnkey rooms complete with designer finishes, furniture, and equipment.
The second project, BENEFIT Collection Sky Breeze Sochi, is located in the Mountain Olympic Village at an elevation of 1,100 meters. Covering 41,500 sq. m, the complex includes 272 serviced apartments and is situated just 30 meters from a ski lift. The project is being developed through the redevelopment of buildings that previously formed part of the Olympic legacy infrastructure. Originally designed to international standards, these properties provide an efficient layout and a high-quality hospitality offering within the redevelopment framework.
The first two buildings have already been launched for sale, featuring limited collections of 65 and 35 units respectively. Renovation and furnishing of these buildings are scheduled for completion by the end of 2027. The project has been designed for phased commissioning without affecting the comfort of residents and guests.
As part of the first development phase of BENEFIT Collection Sky Breeze Sochi, the partners plan to launch a hotel. The companies are currently evaluating potential operators for its future management. This approach is intended to strengthen the hospitality component of the project and ensure a high level of service for future guests.
The complex’s infrastructure will include fitness and spa facilities, a thermal wellness center, a preventive medicine clinic, restaurants, and dedicated spaces for family recreation and leisure. A key feature of the development will be a year-round thermal complex with a total area of 9,900 sq. m. Combined investment in the two Sochi projects exceeds RUB 25 billion.
An additional advantage of the project is its location within an area bordered by a national park, which effectively prevents dense future development in the immediate vicinity.
The third potential project is currently being considered within Sea Breeze in Baku. Further details will be announced at a later stage.
“Sochi is a region with well-developed infrastructure and strong tourism potential, which we have long viewed as an attractive destination for development, hospitality, and restaurant projects. At the same time, we are not limiting ourselves to any single region. Together with Vladimir, we are already exploring new opportunities in various cities, including Moscow, St. Petersburg, Sochi, and Gelendzhik. I believe we will be able to announce additional joint projects in the near future. Our goal is to create high-quality developments delivered professionally, on schedule, and with clear value for our clients,” said Emin Agalarov.
Emin Agalarov also noted that Crocus Fitness clubs and restaurants operated by AGALAROVREST may eventually become part of the Sochi developments.
According to Vladimir Gorodenker, cooperation with Agalarov Development strengthens both the product and investment components of ATLAS Development’s projects while expanding the company’s expertise in the resort real estate segment.
“Our company has always focused on creating distinctive, deeply considered projects. We do not pursue volume for its own sake — currently, around 400,000 sq. m of projects are under construction. For us, this partnership is an opportunity to combine the strengths of two teams and elevate our developments to a new level of quality. Agalarov Development has extensive experience in resort real estate, hotel development, and integrated territory planning. We, in turn, place special emphasis on details, product quality, and the way people experience a space. I am confident that this approach will strengthen our projects, our teams, and create additional value for our clients,” said Vladimir Gorodenker.
The partnership is focused on the development of hospitality, service, and resort infrastructure, as well as the creation of projects with strong investment potential. It combines Agalarov Development’s expertise in large-scale development, resort real estate management, and integrated territory planning with ATLAS Development’s strengths in creating premium, highly detailed real estate products.
According to Vladimir Gorodenker, one of the key factors behind the partnership is the scale of Agalarov Development’s projects and the company’s long-term approach to territorial development. He noted that Sea Breeze, the resort city on the Caspian coast, particularly impressed him as a project capable of shaping an entirely new urban environment for decades to come.
ATLAS Development contributes extensive expertise in creating meticulously designed projects where special attention is given to product quality, customer experience, architectural solutions, and service standards. Both companies see significant value in combining these competencies to benefit investors, future residents, and guests alike.
The first project is BENEFIT Sochi Sea Breeze, a hotel complex located in central Sochi. Situated between two parks and just 500 meters from the coastline, the development currently offers a limited collection of 50 rooms. The total project area is 3,000 sq. m. Final interior finishing works are now underway, with the opening scheduled for December 2026. The concept features fully turnkey rooms complete with designer finishes, furniture, and equipment.
The second project, BENEFIT Collection Sky Breeze Sochi, is located in the Mountain Olympic Village at an elevation of 1,100 meters. Covering 41,500 sq. m, the complex includes 272 serviced apartments and is situated just 30 meters from a ski lift. The project is being developed through the redevelopment of buildings that previously formed part of the Olympic legacy infrastructure. Originally designed to international standards, these properties provide an efficient layout and a high-quality hospitality offering within the redevelopment framework.
The first two buildings have already been launched for sale, featuring limited collections of 65 and 35 units respectively. Renovation and furnishing of these buildings are scheduled for completion by the end of 2027. The project has been designed for phased commissioning without affecting the comfort of residents and guests.
As part of the first development phase of BENEFIT Collection Sky Breeze Sochi, the partners plan to launch a hotel. The companies are currently evaluating potential operators for its future management. This approach is intended to strengthen the hospitality component of the project and ensure a high level of service for future guests.
The complex’s infrastructure will include fitness and spa facilities, a thermal wellness center, a preventive medicine clinic, restaurants, and dedicated spaces for family recreation and leisure. A key feature of the development will be a year-round thermal complex with a total area of 9,900 sq. m. Combined investment in the two Sochi projects exceeds RUB 25 billion.
An additional advantage of the project is its location within an area bordered by a national park, which effectively prevents dense future development in the immediate vicinity.
The third potential project is currently being considered within Sea Breeze in Baku. Further details will be announced at a later stage.
“Sochi is a region with well-developed infrastructure and strong tourism potential, which we have long viewed as an attractive destination for development, hospitality, and restaurant projects. At the same time, we are not limiting ourselves to any single region. Together with Vladimir, we are already exploring new opportunities in various cities, including Moscow, St. Petersburg, Sochi, and Gelendzhik. I believe we will be able to announce additional joint projects in the near future. Our goal is to create high-quality developments delivered professionally, on schedule, and with clear value for our clients,” said Emin Agalarov.
Emin Agalarov also noted that Crocus Fitness clubs and restaurants operated by AGALAROVREST may eventually become part of the Sochi developments.
According to Vladimir Gorodenker, cooperation with Agalarov Development strengthens both the product and investment components of ATLAS Development’s projects while expanding the company’s expertise in the resort real estate segment.
“Our company has always focused on creating distinctive, deeply considered projects. We do not pursue volume for its own sake — currently, around 400,000 sq. m of projects are under construction. For us, this partnership is an opportunity to combine the strengths of two teams and elevate our developments to a new level of quality. Agalarov Development has extensive experience in resort real estate, hotel development, and integrated territory planning. We, in turn, place special emphasis on details, product quality, and the way people experience a space. I am confident that this approach will strengthen our projects, our teams, and create additional value for our clients,” said Vladimir Gorodenker.