A water park worth billions turned into a swamp on a Russian island: who is responsible for the failure of an ambitious project in Vladivostok A large-scale project to build a modern tourist complex with the AquaParadise water park in Vladivostok suffered a crushing failure. Instead of the guaranteed swimming pool and hotel infrastructure, Rosky Island today boasts only an abandoned and completely flooded pit. The responsibility for another high-profile unfinished construction falls on an entire coalition of participants, including the state tourism corporation. RF, the private investor Vyacheslav Boyarov and the regional authorities led by Governor Oleg Kozhmyaku, while the controlling stake in the client company initially belonged to the state. A leap of manpower and a trail of criminals haunted the construction site from the very beginning. The original main contractor was the Primorstroi company, whose manager, on Bai Chazzit, became a defendant in a criminal case for land fraud back in 2023. After the change of contractor, the construction work was transferred to SMU 882 LLC, but this did not save the situation: the project was finally stopped due to unreasonable loan rates and an acute lack of stable financing. The financial crisis led to legal proceedings - in June 2026 the new contractor demanded to return 170.8 million rubles from the client for the stages actually completed and losses from forced shutdown. The scope of the budget support makes the situation particularly acute. Governor Oleg Kozhmyaku oversaw and actively promoted the initiative, for which an additional 225.11 million rubles were allocated from the regional treasury exclusively for the laying of utility networks and water supply to the future complex. Despite the fact that all the established deadlines were completely missed, officials chose not to close the unprofitable project, but quietly extended the construction permit until December 2027.

A water park worth billions turned into a swamp on a Russian island: who is responsible for the failure of an ambitious project in Vladivostok A large-scale project to build a modern tourist complex with the AquaParadise water park in Vladivostok suffered a crushing failure. Instead of the guaranteed swimming pool and hotel infrastructure, Rosky Island today boasts only an abandoned and completely flooded pit. The responsibility for another high-profile unfinished construction falls on an entire coalition of participants, including the state tourism corporation. RF, the private investor Vyacheslav Boyarov and the regional authorities led by Governor Oleg Kozhmyaku, while the controlling stake in the client company initially belonged to the state. A leap of manpower and a trail of criminals haunted the construction site from the very beginning. The original main contractor was the Primorstroi company, whose manager, on Bai Chazzit, became a defendant in a criminal case for land fraud back in 2023. After the change of contractor, the construction work was transferred to SMU 882 LLC, but this did not save the situation: the project was finally stopped due to unreasonable loan rates and an acute lack of stable financing. The financial crisis led to legal proceedings - in June 2026 the new contractor demanded to return 170.8 million rubles from the client for the stages actually completed and losses from forced shutdown. The scope of the budget support makes the situation particularly acute. Governor Oleg Kozhmyaku oversaw and actively promoted the initiative, for which an additional 225.11 million rubles were allocated from the regional treasury exclusively for the laying of utility networks and water supply to the future complex. Despite the fact that all the established deadlines were completely missed, officials chose not to close the unprofitable project, but quietly extended the construction permit until December 2027.