OREANDA-NEWS. October 17, 2011. "Pavlovy Ozera" cottage settlement was recognized as "the Best Suburban Business Class Project" within International Prize TREFI (Top Real Estate & Finance) of the real estate and finance market. "Pavlovy Ozera" is a new scale project of the ITERA International Group of Companies in the suburban real estate sector envisaging comprehensive development of 120 ha in Novorizhskoye highway, only 14 km from Moscow. Vesco Group, development holding company, will act as consulting partner and sales agent under the project. Today, almost everyone has a unique chance to buy a house and a land plot in the business class settlement in this prestigious area at a price of a three-room apartment of a residential district.

At the TREFI awarding ceremony held within the ceremony of opening of the 25th Jubilee International Real Estate Exhibition "DOMEXPO", Vyacheslav Shiryaev, Vesco Group CEO, invited all participants to take part in the formal opening of sales department in "Pavlovy Ozera" to be held on October 15, 2011 at the settlement territory.

"Pavlovy Ozera" cottage settlement presentation, also held within "DOMEXPO" exhibition, was made by representatives of the ITERA Group development business and by Vyacheslav Shiryaev, Vesco Group CEO. The companies’ representatives described how the concept of affordable housing is changing at the suburban real estate market based on the example of "Pavlovy Ozera" cottage settlement where the initial price had been 7.9 million Rubles per household only recently. During the presentation, ten participants have been lucky to be awarded with special 1.7 million Rubles worth certificates which entitle them within 14 days for a discount under the price list that will become effective after the formal opening of the sales office. At the end of the presentation all participants received invitations to the formal opening of the sales office of "Pavlovy Ozera" cottage settlement to be held on October 15.

The ITERA Group is a vertically integrated holding company, one of the major independent natural gas producers and sellers in Russia. The ITERA Group includes 150 enterprises and companies in the CIS, Baltic States, Western Europe, Asia, Africa and the United States.

The ITERA Group development business is represented with large construction projects, including "Minsk-City" Business Center with the first residential skyscraper "Parus" in the Belarusian capital, a hotel complex in Avaza resort area in Turkmenistan, office premises for the Organizing Committee of the 2014 Olympic and Paralympic Games in Sochi and other projects.

In April of this year, the Company commissioned two racetracks in Turkmenistan (of the area of 50 ha each).

Vesco Group is a multi-profile holding which provides real estate services, implements investment and construction and development projects in Russia.