OREANDA-NEWS. August 09, 2013. Sviaz-Bank has opened a nonrevolving credit line with a disbursement limit of 9 billion rubles to Garden Quarters OJSC in what is Sviaz-Bank’s biggest deal with INTECO Company, Moscow’s largest developer.

The funds loaned by the Bank are to be used, as a first priority, to cover the costs incurred in the second stage of the multifunctional Garden Quarters housing complex under construction in Moscow’s Khamovniki district. Garden Quarters OJSC (which is a member of the INTECO Group of Companies) owns the project and land on which construction is under way.

The Garden Quarters housing complex is going up on an area of 11.5 hectares, formerly the site of the Kauchuk Plant in Khamovniki district. The housing complex will consist of four blocks of club houses totaling 464,000 square meters in area and comprise 40 individual buildings two to 14 stories high. The quarter was designed by a team of as many as seven acknowledged architects led by Sergey Skuratov. The project is unique for Moscow in many respects. The entire surface area of the housing complex is intended for pedestrians only, with motor traffic hidden underground. Over a half of its total area is taken up by trees and bushes, and a natural pond that will be turned into a skating rink in wintertime. Construction of the first stage is nearing completion and that of the second stage is gathering speed.