A Russian bank acquired a military base near Chersonesos for development

The Russian government has allocated land on the shores of Karantinnaya Bay in annexed Sevastopol for development. The plot, allocated to the sanctioned bank “PSB,” is located on the territory of a former Black Sea Fleet military base and partially encroaches on the ancient necropolis of Chersonesos.

This was reported by Krym.Realii. 

This refers to the territory from which a brigade of missile boats belonging to Russia’s Black Sea Fleet was previously redeployed. 

The land near Karantinnaya Bay was leased for 49 years to “Sevastopol Hotel Complex” LLC, founded by a subsidiary of the state-owned “Promsvyazbank” (PSB)—a key financial institution for Russian defense procurement that is subject to international sanctions. 

The Russian government allocated the first plot within the“Chersonesos Taurica” historic site to the company in April 2026, and in September, by order of Russian Prime Minister Mikhail Mishustin, the total area of the leased territory was increased approximately 20-fold—to 22 hectares. 

On this plot, the sanctioned bank plans to build a multifunctional hotel complex with apartments, retail facilities, a waterfront promenade, and a school and dormitory for children.

The project calls for the demolition of 48 buildings and structures located on the territory of the former military town. These include a checkpoint, warehouses, garages, barracks, a cafeteria, a library, a club, a museum, a sports complex, a boiler room, a transformer substation, and other structures.

Юлія Калабайда