The Russian Federation has the biggest land area in the Arctic and has been gradually expanding its definition by joining new regions and territories that previously were not considered Arctic to its Arctic Zone of Russian Federation (AZFR). In recent years, two incentivizing programmes, the Arctic Hectare and the Resident of the AZRF, were introduced to stimulate the social and economic development of the AZRF. The resident status in the AZRF provides an investor with a set of privileges for investment activity, including tax incentives. From 2020 to November 2022, 510 companies received the status of resident and are collectively all support programmes are expected to contribute to over 33,400new jobs. This study is aimed at comprehensively reviewing the construction of the AZRF concept as a Special Economic Zone. In the analysis, I focus on the business incentivizing programmes through the lenses of sustainability, hence identifying how economic, social and environmental concerns are incorporated into the Resident of the AZRF programme. Results demonstrate that the economic pillar of sustainability outweighs social and environmental concerns in the construction of the Russian Arctic as a Special Economic Zone.