Turkish Construction Company from World's Top 250 to Deliver "Yar Park" in Kazan
Turkish Construction Company from World's Top 250 to Deliver "Yar Park" in Kazan
15 May
The construction of the "Yar Park" mixed-use complex in the centre of Kazan, opposite the Kremlin, will be undertaken by SMK Holding, an international holding company headquartered in Ankara. The signing of the Partnership Agreement took place today in Kazan as part of the 17th International Economic Forum "Russia – Islamic World: KazanForum".
Developer and hotel operator Kravt h&h has announced the results of the tender to select a general contractor for the construction of the "Yar Park" mixed-use complex, which is being delivered on the bank of the Kazanka River opposite the Kremlin, in the very heart of the capital of Tatarstan. The construction will be carried out by SMK Holding, an international holding company comprising a number of engineering, construction and investment companies with experience in the residential, hospitality, infrastructure and industrial sectors.
The general contractor will perform all types of monolithic and construction-and-assembly works, including the erection of the hotel and office buildings, towers with serviced apartments, a congress centre and a shopping and restaurant mall, as well as the two-level underground section of the project.
Initially, various companies participated in the tender, including international ones such as PowerChina Corporation. Ultimately, however, SMK Holding was selected. Among the advantages of the Turkish general contractor is its extensive experience in delivering premium hotel and mixed-use projects comparable to "Yar Park", which Kravt h&h is constructing on the bank of the Kazanka River opposite the Kremlin.
According to Valery Kravtsun, CEO and founder of Kravt h&h, the choice of general contractor is dictated by the complexity and ambition of the design, which is set to become the core of Kazan's new contemporary centre: "A mixed-use cluster is taking shape at a landmark location in the capital of Tatarstan, where one will be able not only to work, but also to live and relax in comfort, whilst enjoying the services of the professional hotel operator Kravt h&h. SMK Holding has the reputation and experience to solve large-scale tasks. The holding's portfolio includes more than 300 projects with a total value exceeding 4 billion USD. SMK's involvement in the construction of Yar Park will enable us to achieve both a high standard of construction quality and to meet the stated project delivery deadlines," noted Valery Kravtsun.
"Yar Park" combines cutting-edge business infrastructure with apartments, recreational areas and promenade routes, as well as its own marina accommodating 60 yachts. The delivery of "Yar Park" involves the execution of comprehensive works within a project totalling 307,000 sq. m on an 11-hectare plot. The project comprises 1,927 apartments, the 297-room Muse of Stars 5* hotel, a 5,500 sq. m congress centre, a 1,600 sq. m exhibition forum, as well as office and business spaces with a total area of approximately 18,000 sq. m. In addition, comprehensive landscaping of 93,500 sq. m of grounds is planned.
"'Yar Park' is a landmark project for the capital of Tatarstan, one that will become an event at both the regional and federal level and will contribute to the development of the urban environment of Kazan, one of the most beautiful metropolises in Russia, which has become a bridge between cultures and civilisations. In implementing the project, we will draw upon our international experience to ensure that works are carried out in accordance with high standards of quality, safety and adherence to deadlines," noted Ertekin Ahmet Gokhan, Vice President of SMK Holding and General Director of OOO SMK Stroyinvest.
SMK Holding is present in Turkey and Russia, Kazakhstan, Iraq, Saudi Arabia, the UAE and other countries. The group's portfolio includes projects such as the Astur Residential Complex (1,375 residential units, Antalya), the 4* Ajyad Hotel with 286 rooms (Mecca, Saudi Arabia), and the 5* Talya Hotel coastal complex with 180 rooms (Antalya).
The holding recently incorporated the major Turkish contractor Yüksel, which has delivered projects with a total value exceeding 20 billion USD and ranks among the world's top 250 construction companies. Its portfolio includes the 165,000 sq. m Akmerkez mixed-use complex in Istanbul with a shopping centre, office towers and a 5* apart-hotel, attracting up to 3 million visitors per month; the TOKİ residential complex in Ankara with 1,600 apartments and comprehensive social infrastructure; Yüksel has also delivered a number of top-class hotel complexes in Istanbul: the 320-room Ciragan Palace Kempinski 5*, the 360-room Hyatt Regency Istanbul 5* near Taksim Square, and the 700-room Swissotel The Bosphorus 5* with panoramic views of the Bosphorus, which has become one of the city's largest hotels.
Project financing is being provided by Sberbank. As noted by Ruslan Salimov, Manager of the Bank Tatarstan Branch of Sberbank, "Yar Park" is one of the most ambitious and architecturally significant development projects in the modern history of Kazan: "Sberbank has provided project financing because we see the creation here of a fully-fledged ecosystem for living, business and tourism. The selection of the Turkish holding SMK as the general contractor is an additional factor of confidence for us as a bank. The combination of Kravt h&h's experience in property management and the international competence of SMK Holding (including the Yüksel portfolio with properties of the calibre of Ciragan Palace) guarantees adherence to deadlines and high-quality workmanship. We are confident that, thanks to Sberbank's systemic financial support, the developer's professionalism, and the reliability of the general contractor, Yar Park will become a new centre of attraction and set a benchmark for future investment projects in the region," said Ruslan Salimov.
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The International Economic Forum “Russia – Islamic World: KazanForum” is being held in Kazan from 12 to 17 May 2026. In accordance with a decree of the President of the Russian Federation, Vladimir Putin, the Forum acquired federal status in 2023, becoming the main platform for interaction between Russia and the Islamic world.
Representatives from 103 countries have registered for KazanForum 2026.
The Forum’s 2026 business programme includes 149 events across 21 tracks. Several international exhibitions will be held as part of the Forum: The International Exhibition of Co-operation between Russia and the Islamic World, the “Innovations. Investment. Infrastructure” Exhibition, the International Real Estate Exhibition and Conference, and the Kazan Halal Market Trade Fair. The agenda also includes: the Forum of Chambers of Commerce and Industry of OIC Countries, the Forum of Young Diplomats, the Forum of Young Entrepreneurs, meetings of intergovernmental commissions and bilateral conferences, festivals, gastronomic and sports projects, including the “Business on Horseback” horse race and the International Jockeys’ Championship.
In 2026, Kazan holds the status of Cultural Capital of the Islamic World. Cultural co‑operation will be one of the key themes of the humanitarian agenda – during the Forum, the Congress of Ministers of Culture of OIC Countries and the 15th Session of the ICESCO General Conference will be held. The programme will conclude with the “Izge Bolgar Zhyeni” gathering in Bolgar, dedicated to the Day of the Official Adoption of Islam by Volga Bulgaria.
The full programme of the Event is available on the Forum’s official website.
The Roscongress Foundation acts as the Operator for the preparation and holding of the Event, whereas ANO “Directorate for Sports and Social Projects” serves as the Operator’s Executive Directorate.
Developer and hotel operator Kravt h&h has announced the results of the tender to select a general contractor for the construction of the "Yar Park" mixed-use complex, which is being delivered on the bank of the Kazanka River opposite the Kremlin, in the very heart of the capital of Tatarstan. The construction will be carried out by SMK Holding, an international holding company comprising a number of engineering, construction and investment companies with experience in the residential, hospitality, infrastructure and industrial sectors.
The general contractor will perform all types of monolithic and construction-and-assembly works, including the erection of the hotel and office buildings, towers with serviced apartments, a congress centre and a shopping and restaurant mall, as well as the two-level underground section of the project.
Initially, various companies participated in the tender, including international ones such as PowerChina Corporation. Ultimately, however, SMK Holding was selected. Among the advantages of the Turkish general contractor is its extensive experience in delivering premium hotel and mixed-use projects comparable to "Yar Park", which Kravt h&h is constructing on the bank of the Kazanka River opposite the Kremlin.
According to Valery Kravtsun, CEO and founder of Kravt h&h, the choice of general contractor is dictated by the complexity and ambition of the design, which is set to become the core of Kazan's new contemporary centre: "A mixed-use cluster is taking shape at a landmark location in the capital of Tatarstan, where one will be able not only to work, but also to live and relax in comfort, whilst enjoying the services of the professional hotel operator Kravt h&h. SMK Holding has the reputation and experience to solve large-scale tasks. The holding's portfolio includes more than 300 projects with a total value exceeding 4 billion USD. SMK's involvement in the construction of Yar Park will enable us to achieve both a high standard of construction quality and to meet the stated project delivery deadlines," noted Valery Kravtsun.
"Yar Park" combines cutting-edge business infrastructure with apartments, recreational areas and promenade routes, as well as its own marina accommodating 60 yachts. The delivery of "Yar Park" involves the execution of comprehensive works within a project totalling 307,000 sq. m on an 11-hectare plot. The project comprises 1,927 apartments, the 297-room Muse of Stars 5* hotel, a 5,500 sq. m congress centre, a 1,600 sq. m exhibition forum, as well as office and business spaces with a total area of approximately 18,000 sq. m. In addition, comprehensive landscaping of 93,500 sq. m of grounds is planned.
"'Yar Park' is a landmark project for the capital of Tatarstan, one that will become an event at both the regional and federal level and will contribute to the development of the urban environment of Kazan, one of the most beautiful metropolises in Russia, which has become a bridge between cultures and civilisations. In implementing the project, we will draw upon our international experience to ensure that works are carried out in accordance with high standards of quality, safety and adherence to deadlines," noted Ertekin Ahmet Gokhan, Vice President of SMK Holding and General Director of OOO SMK Stroyinvest.
SMK Holding is present in Turkey and Russia, Kazakhstan, Iraq, Saudi Arabia, the UAE and other countries. The group's portfolio includes projects such as the Astur Residential Complex (1,375 residential units, Antalya), the 4* Ajyad Hotel with 286 rooms (Mecca, Saudi Arabia), and the 5* Talya Hotel coastal complex with 180 rooms (Antalya).
The holding recently incorporated the major Turkish contractor Yüksel, which has delivered projects with a total value exceeding 20 billion USD and ranks among the world's top 250 construction companies. Its portfolio includes the 165,000 sq. m Akmerkez mixed-use complex in Istanbul with a shopping centre, office towers and a 5* apart-hotel, attracting up to 3 million visitors per month; the TOKİ residential complex in Ankara with 1,600 apartments and comprehensive social infrastructure; Yüksel has also delivered a number of top-class hotel complexes in Istanbul: the 320-room Ciragan Palace Kempinski 5*, the 360-room Hyatt Regency Istanbul 5* near Taksim Square, and the 700-room Swissotel The Bosphorus 5* with panoramic views of the Bosphorus, which has become one of the city's largest hotels.
Project financing is being provided by Sberbank. As noted by Ruslan Salimov, Manager of the Bank Tatarstan Branch of Sberbank, "Yar Park" is one of the most ambitious and architecturally significant development projects in the modern history of Kazan: "Sberbank has provided project financing because we see the creation here of a fully-fledged ecosystem for living, business and tourism. The selection of the Turkish holding SMK as the general contractor is an additional factor of confidence for us as a bank. The combination of Kravt h&h's experience in property management and the international competence of SMK Holding (including the Yüksel portfolio with properties of the calibre of Ciragan Palace) guarantees adherence to deadlines and high-quality workmanship. We are confident that, thanks to Sberbank's systemic financial support, the developer's professionalism, and the reliability of the general contractor, Yar Park will become a new centre of attraction and set a benchmark for future investment projects in the region," said Ruslan Salimov.
*****
The International Economic Forum “Russia – Islamic World: KazanForum” is being held in Kazan from 12 to 17 May 2026. In accordance with a decree of the President of the Russian Federation, Vladimir Putin, the Forum acquired federal status in 2023, becoming the main platform for interaction between Russia and the Islamic world.
Representatives from 103 countries have registered for KazanForum 2026.
The Forum’s 2026 business programme includes 149 events across 21 tracks. Several international exhibitions will be held as part of the Forum: The International Exhibition of Co-operation between Russia and the Islamic World, the “Innovations. Investment. Infrastructure” Exhibition, the International Real Estate Exhibition and Conference, and the Kazan Halal Market Trade Fair. The agenda also includes: the Forum of Chambers of Commerce and Industry of OIC Countries, the Forum of Young Diplomats, the Forum of Young Entrepreneurs, meetings of intergovernmental commissions and bilateral conferences, festivals, gastronomic and sports projects, including the “Business on Horseback” horse race and the International Jockeys’ Championship.
In 2026, Kazan holds the status of Cultural Capital of the Islamic World. Cultural co‑operation will be one of the key themes of the humanitarian agenda – during the Forum, the Congress of Ministers of Culture of OIC Countries and the 15th Session of the ICESCO General Conference will be held. The programme will conclude with the “Izge Bolgar Zhyeni” gathering in Bolgar, dedicated to the Day of the Official Adoption of Islam by Volga Bulgaria.
The full programme of the Event is available on the Forum’s official website.
The Roscongress Foundation acts as the Operator for the preparation and holding of the Event, whereas ANO “Directorate for Sports and Social Projects” serves as the Operator’s Executive Directorate.
