OKKO Group has begun construction of the all-season mountain resort GORO Mountain Resort at the foot of the Vysokyi Verkh mountain range at an altitude of 650 m above sea level in Lviv region, the group’s website reported on Wednesday.
The total investment in the recreation project is estimated at $1.5 billion. OKKO Group plans to invest $500 million using its own and credit funds, and another $1 billion is planned to be raised from other investors.
The total area of GORO Mountain Resort will be almost 1200 hectares, of which 360 hectares are planned for mountain and ski infrastructure, and more than 800 hectares for the development of hotel, commercial and recreational facilities.
Over the next 15 years, it is planned to build 41 75 km long ski runs with 342 hectares of snow cover, 17.5 km of ski lifts, including two modern gondola lifts and 11 chair lifts, as well as Welcome and Mountain centers.
The construction of the first stage of GORO with a total area of 127 hectares has already begun 5 km from Slavske village and is expected to be completed in 2028-2029. It will include 10 ski slopes with a length of 13 km, five hotel complexes with 1100+ rooms, along with recreational infrastructure with spa areas, swimming pools, restaurants, children’s and business areas.
“We see the future, even despite the challenges of war, and understand the importance of such ambitious projects for the socio-economic development of the Lviv region. The new mountain recreational project should become a magnet for Ukrainian and foreign tourists and potential investors, putting a modern mountain location on the tourist map of Europe,” said Vasyl Danyliak, CEO of OKKO.
OKKO Group in GORO Mountain Resort acts as the sole owner, major investor, master developer, developer and operator to ensure the harmonious development and holistic concept of the all-season recreational project.
OKKO Group has engaged world-class Austrian experts to create an international format: PKF Hospitality (investment analysis and concept), ILF Group (master plan and ski infrastructure) and Doppelmayr/Garaventa Group (design of lifts and cable cars). GORO Development, an investment and development company, is engaged in the development and construction of real estate on the territory of GORO Mountain Resort, and a single operator will manage the complex.
OKKO Group unites more than 10 diversified businesses in the fields of production, trade, construction, insurance, maintenance and other services. The flagship company of the group is Galnaftogaz, which operates one of the largest filling stations in Ukraine under the OKKO brand, with about 400 filling stations.
The group’s founder and ultimate beneficiary is Vitaliy Antonov.
