OREANDA-NEWS. Sberbank CIB has organised a four-year credit line for developer company City-XXI Century (Novard group of companies) worth RUB 3 bln. The funds will be used to finance the construction of comfort-class residential area Kraski Zhizni in Vidnoye city in the Moscow Region.

The housing complex is a part of the Raduzhny Minipolis and is an extension of the comprehensive development of the 5th urban microdistrict that includes all the necessary infrastructure. It is planned to construct nine buildings with different numbers of storeys (3, 8 and 17-storeys) in three stages from 2012 to 2016. The project also includes a school, shopping centre within walking distance and other social infrastructure facilities. Purchasers can choose between over 70 various planning concepts for flats ranging from 31 sq. m to 109 sq. m in area.

In April 2013 residential area Kraski Zhizni, which is both a conceptual and a functional project, won the "Best Comfort-class Residential Complex" category at the professional competition Pro Reality 2012.

"Over the past seven years of fruitful cooperation between the Sberbank Group and City-XXI Century, four of the group's residential projects located in the northwest of Moscow have been successfully completed with financing that we had provided," commented Natalia Chibrikova, Head of the Construction and Development Division, Managing Director at Sberbank CIB. "By taking part in the financing of real estate projects, Sberbank CIB not only strengthens its position in the segment, but also opens up new possibilities for the development of the Russian construction industry in general."

"The country's largest bank is our primary lending partner for projects in Strogino. We are pleased to continue this financial cooperation for the construction of a major property in the Moscow Region. The company's respectable credit history, proper fulfilment of all its financial obligations, even in the difficult period of 2008-09, and a high level of solvency are the best guarantee of interacting with the bank in a constructive way in the future," summarised Yulia Batarova, Chief Financial Director of City-XXI Century.