06.05.2016, 09:50
Sberbank CIB to provide Urban Group RUB 2.96 bln
OREANDA-NEWS. Sberbank CIB together with the team of the Moskovsky Bank closed a deal to provide Urban Group RUB 2.96 bln of project financing for three years to implement its Mitino O2 residential estate project, which will be located on Pyatnitskoye Highway, in one of the Moscow Region's most environmentally friendly areas. Funds will be used to construct five residential buildings and utility infrastructure, which will be part of the first stage of construction.
The use of the credit line combined with own funds will enable the company to speed up project delivery and offer potential buyers competitive interest rates.
"We have cooperated with Sberbank for more than a decade and have successful experience of working together on project financing, namely the construction of our City of Embankments and Opalikha OZ residential complexes. This new line of credit will help us to develop even more dynamically and confidently look towards future projects," commented Andrey Puchkov, CEO of Urban Group.
Denis Konstantinov, Deputy Chairman of the Moskovksy Bank, commented: "This project opens up a new stage in cooperation with our longstanding partner Urban Group. The well-coordinated work of the Sberbank CIB team allowed the deal to be structured rapidly and with beneficial conditions."
Commenting on the deal, Natalya Shemanovskaya, Managing Director, Head of the Construction and Development Division at Sberbank CIB, said: "Client centricity is our team's key principle. At the same time, Sberbank CIB places special focus on social initiatives. The Urban Group project is an excellent example of full-fledged development that will provide affordable housing to residents of Moscow and the Moscow Region and also the modern infrastructure required for comfortable living."
The Mitino O2 city-resort project involves creating a comfortable environment for various categories of the population to reside in. The project's unique architectural solutions are provided at an accessible price. The forested area surrounding the residential complex has a developed infrastructure including a separate resort zone by a lake with a beach, walking paths, restaurants, sports and wellness complex, spa zone, area for yoga, Pilates and workouts, a skating rink, children's playgrounds and outdoor gym equipment.
The use of the credit line combined with own funds will enable the company to speed up project delivery and offer potential buyers competitive interest rates.
"We have cooperated with Sberbank for more than a decade and have successful experience of working together on project financing, namely the construction of our City of Embankments and Opalikha OZ residential complexes. This new line of credit will help us to develop even more dynamically and confidently look towards future projects," commented Andrey Puchkov, CEO of Urban Group.
Denis Konstantinov, Deputy Chairman of the Moskovksy Bank, commented: "This project opens up a new stage in cooperation with our longstanding partner Urban Group. The well-coordinated work of the Sberbank CIB team allowed the deal to be structured rapidly and with beneficial conditions."
Commenting on the deal, Natalya Shemanovskaya, Managing Director, Head of the Construction and Development Division at Sberbank CIB, said: "Client centricity is our team's key principle. At the same time, Sberbank CIB places special focus on social initiatives. The Urban Group project is an excellent example of full-fledged development that will provide affordable housing to residents of Moscow and the Moscow Region and also the modern infrastructure required for comfortable living."
The Mitino O2 city-resort project involves creating a comfortable environment for various categories of the population to reside in. The project's unique architectural solutions are provided at an accessible price. The forested area surrounding the residential complex has a developed infrastructure including a separate resort zone by a lake with a beach, walking paths, restaurants, sports and wellness complex, spa zone, area for yoga, Pilates and workouts, a skating rink, children's playgrounds and outdoor gym equipment.
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