A major new luxury resort project is coming to Russia’s Karelia region after authorities and investors approved plans for a premium lakeside development on the shores of Lake Ladoga.

The new Cosmos Selection resort will be built on Riekkalansaari Island near Sortavala following an agreement signed during the St Petersburg International Economic Forum 2026.

5 Billion Ruble Investment On Lake Ladoga Island

The project, known as Grand Resort Sortavala, will occupy a 24-hectare site overlooking Lake Ladoga, surrounding islands and the famous Ladoga skerries.

Total investment is estimated at 5 billion rubles (approximately €55 million), with construction expected to begin during the second quarter of 2026.

The project will be developed by M9 Development, while Cosmos Hotel Group will oversee operations and long-term management under its premium Cosmos Selection brand.

100-Room Hotel And More Than 80 Guest Houses Planned

Plans include a main aparthotel building with 100 rooms alongside restaurants, conference facilities, fitness areas and a spa complex.

In addition, developers plan to build 82 standalone accommodation units in different formats.

These include cottages with terraces and direct access to the water.

Marina, Sailing School And Outdoor Activities

The project is designed around outdoor recreation and waterfront experiences.

Developers plan to build a marina, waterfront promenade, boat rental facilities and sports areas including padel courts.

The resort will also include eco-trails and landscaped recreational zones designed to encourage year-round outdoor activities.

Visitors will additionally have access to excursions and sailing lessons through an on-site sailing school.

Karelia Continues Expanding Premium Tourism Infrastructure

The development highlights growing investment in high-end tourism projects across Karelia as domestic travel demand continues increasing.

Lake Ladoga and the surrounding archipelago have become increasingly popular among travelers seeking nature-focused luxury experiences closer to major Russian cities.