OREANDA-NEWS. Sberbank CIB has organised a 3-year line of credit for Pioneer Group with a RUB 2.5 bln limit. Financing is being provided by Sberbank's Severo-Zapadny Bank, and will be used to fund the construction of the LIFE-Primorsky residential area, which is to be located in the southern part of Saint Petersburg's prestigious and fast growing Primorsky District.

The future 87,000 m2 residential area will include 4 monolithic buildings containing flats with attractive views, spacious terraces and a high-quality turnkey finish. LIFE-Primorsky will have a developed infrastructure, including a heated underground car park, guest parking spaces, as well as shops and service providers on the first floors of the buildings. Future residents will be provided with a landscaped yard with recreational areas, children's play areas and sports areas, and a kindergarten.

In December 2013, Pioneer Group and Sberbank CIB signed a long-term strategic partnership 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, organise deals on capital and debt markets, as well as cooperate on financing for Pioneer Group's activities, banking services and cooperation as part of marketing initiatives.

Pioneer Group was founded in 2001 and is one of the largest developers in Moscow and St. Petersburg. The Group's primary activity is realisation of investment projects for the construction of residential and commercial real estate. Pioneer Group's investment portfolio includes projects with a total area of over one million m2 and over 500,000 m2 of commissioned residential and commercial real estate.

In Moscow the Group is currently implementing its Residential Quarter LIFE development concept. The projects that bear this name set the benchmark in terms of modern housing as they stand out due to their high quality of construction, well-thought-out layouts, excellent finishing, developed commercial and social infrastructure, access to transport, and environmental friendliness.

Pioneer Group has been assigned a B- credit rating by international ratings agency Standard & Poor's (S&P), which is evidence of the company's high level of transparency and reliability.