Construction has begun near Uzhhorod, in the village of Onokivtsi, on the new Bali-style Onoky resort, which will span 60 hectares. The project is designed for a 15-year development cycle and will include not only tourism and recreational infrastructure, but also residential areas, a retail and entertainment center, a school, and a medical center.
The first phase of the resort — Onoky River Club, featuring a 4-star hotel, cottages, spa facilities, and related infrastructure — entered construction in winter 2026. The opening is expected to take place in stages and be completed by 2029.
The project’s initiator and co-investor is Kostiantyn Parshyn, owner of Delo.ua and the Economika+ media holding. He previously worked in agribusiness and development, was a co-owner of the flour producer Dnipromlyn, and is also a co-founder of the Krass Capital investment fund, where he holds a 50% stake. The fund’s other co-investor is Yevhen Tkachenko. Krass Capital is already developing the Avenue44 residential complex in Uzhhorod and has signed a general agreement for the implementation of the Onoky project. The resort is being developed by Onoki Development, whose beneficiaries are Tetiana Yarotska and Vitalii Kolesnykov.
The first concept for the resort was developed in 2022, after which the business models and overall project approach were revised. The core land plot — around 52 hectares — is leased by MPP Karpaty, while the rest belongs to the local community and several private owners. The land is zoned primarily for recreation, with certain plots designated for commercial and residential development.
Onoky is positioned as Ukraine’s first resort combining Balinese aesthetics with a Carpathian landscape, targeting tourists from Ukraine and neighboring countries. The resort is located close to the EU border, with Slovakia, Poland, Hungary, and Romania all nearby.
For Onoky River Club, projected occupancy is 49–54%, while the average room rate is expected to reach $159 in the first year of operation. Its competitive set includes five-star spa hotels in western Ukraine and premium resort projects in neighboring countries including Romania, Hungary, Slovakia, Slovenia, and Poland.
The first phase of the resort will cover 10.7 hectares with 37,000 square meters of built area and will include more than 300 hotel rooms, two restaurants, four bars, a spa center, a fitness zone, and a coworking space.
Onoky Aquapark will feature four pools, including a thermal pool, as well as water slides and jacuzzis. The facility is designed to host up to 1,000 guests at a time and more than 200,000 visitors annually.
Onoky Thermal & East Asian Medical Resort is planned as a hotel cluster with 200 rooms and villas.
Onoky Apartments envisions the construction of nearly 1,900 apartments, while the Retail & Entertainment & Educational Cluster will include a medical center, a private school, and a shopping and entertainment complex. A 1,000-meter embankment will be developed along the Uzh River.
The projected average annual number of guests and permanent residents of the resort is 8,000–9,000 people, and up to 10,000 including service, engineering, technical, and management personnel.
The project was designed by Ukrainian architectural bureaus AIMM and Archimatika, with design by YOD Group, while the concept was refined by City Development Solutions. Total investment in the project is estimated at $500 million. Around $30 million is needed at the start to cover construction of the first phase, engineering infrastructure, hydraulic works, and the design of key commercial facilities including the aquapark, hotel, residential zone, shopping center, and school.
The investment is being financed from Parshyn’s own funds, generated from previous business sales, as well as from partner income and co-investor capital. There are five co-investors, whose names have not been disclosed. The share of equity funding in the project is estimated at 30–50%, while the $40 million thermal aquapark is expected to be financed 80% by investors.
The developers plan to raise around $200–250 million through the sale of apartments, residential units, and commercial space. The offering will include 259 investment apartments, 28 duplexes, and 30 townhouses. The minimum price is set at $3,000 per square meter, with apartments starting at about $170,000, duplexes from $204,000, and townhouses from $344,000.
Market experts warn of several risks, including declining demand for income-generating apartments, the large scale of required investment, a shortage of construction workers, and increasing market saturation in resort regions such as Slavske and Bukovel. At the same time, the project’s proximity to the EU border improves its chances of success, while the integrity of the owners and the legal soundness of permitting documentation will be key factors.
