OREANDA-NEWS. Sberbank CIB organized a five-year RUB 8.3 bln line of credit for Pioneer Group. The funds will be used to finance the next construction phase of the residential area LIFE-Mitinskaya Ecopark which will be erected near to the nearly finished neighbouring residential area in the capitol’s North-Western Administrative Okrug. Pioneer Group is the developer, builder and general investor for the project.

The 133,000 sq.m. residential area will include three 25-story monolithic buildings, and 1,728 apartments with individual floor plans and quality turnkey finish. LIFE-Mitinskaya Ecopark residents will enjoy the convenience of commercial and social infrastructure, including a supermarket, cafe, bank branch, pharmacy and beauty salon. The property features a landscaped courtyard with recreational areas, playground, sports facilities and above-ground parking.

The construction of the residential area LIFE-Mitinskaya Ecopark will begin in 2014. The project is scheduled for commissioning in July 2014 – February 2017.

In December, 2013, Pioneer Group and Sberbank CIB signed a long-term agreement on improving the efficiency of the Group’s activities. Under the agreement, Sberbank CIB will provide comprehensive investment banking and consulting services on Russian and Global markets, organizing deals on capital and debt markets, as well as cooperation on financing3 for Pioneer Group’s activities, banking services and cooperation as part of the marketing initiative.

Pioneer Group’s activities focus on investment projects and construction of commercial and residential real estate. Founded in 2001, the company is one of the largest builders in Moscow and Saint Petersburg with an investment portfolio that includes projects with more than 1 mln sq.m. and more than 500,000 sq.m. of commissioned residential and commercial real estate. In Moscow, Pioneer Group is building the comprehensive residential area LIFE. Projects under this brand represent the highest quality in modern housing: the highest construction standards, well planned layouts, quality finish, good access to transport, commercial and social infrastructure, ecology.

Pioneer Group has a В- rating from Standard & Poor’s (S&P), which underlines the company’s stability and transparent structure.