OREANDA-NEWS. Sberbank CIB has organised a line of credit for INTECO Group worth a total of RUB 5.6 bln. The funds will be used to finance the construction of the multifunctional apartment complex at 31 Sadovnicheskaya Street with a total area of 34,000 sq. m and the multifunctional complex at 3-7 Sadovnicheskaya Embankment with a total area of 30,000 sq. m.

This is not the first time that Sberbank CIB has participated in organising lines of credit for INTECO Group. In March and April 2014 agreements were signed on the financing of a construction project in Moscow's Khodynskoe Polye neighbourhood - the eastern and western parts of the 'Liner' complex, with RUB 6.8 bln provided for each.

All the lines of credit have been opened under the strategic partnership agreement signed by INTECO Group and Sberbank CIB in December 2013. It is expected that the projects for which the lines of credit were opened will be completed in 2016.

INTECO Group is one of the leading Russian developers and a recognised urban planning expert. The Group specialises in comprehensive real estate development of territory in Moscow and the Russian regions. It performs a full cycle of work at the highest possible level, from creation of concepts, architectural designing and commissioning of properties to selling and operating real estate. The company's investment portfolio currently includes over 2.6 mln sq. m of real estate of various purposes and complexity in Moscow and Russian regions.

The Sadovnicheskaya Street complex is located on a 1 ha plot in the historic Zamoskvorechye District (Central Administrative Area), between Sadovnicheskaya Street and Raushskaya Embankment. The complex will feature apartments with areas of 60 to 220 sq. m with excellent views. The project includes an underground parking lot with 194 spaces for vehicles and 46 spaces for motorbikes and bicycles, a landscaped inner yard and other infrastructure.

The Sadovnicheskaya Embankment complex is located on a 0.99 ha plot in the historic Zamoskvorechye District (CAA). The area has developed infrastructure and good access to transport. The project will feature 116 apartments with a total area of 13,700 sq. m, commercial space on the first floor and parking for 155 vehicles.