VTB Bank North-West Regional Center has granted an investment loan to CJSC Zvezdny (Adamant Holding). The loan has been issued in the form of a non-revolving 7-year credit line with a disbursement limit set at EUR 44 million. The loan funds will be channeled for the construction of the second phase of the Kontinent shopping and leisure center.
The new center will be located in Moskovsky district of St. Petersburg, near Zvezdnaya metro station, at the intersection of Zvezdnaya and Lensoveta streets. A gallery of shops selling cloth, shoes, and accessories of famous brands, a multiplex cinema, a funfair, an ice rink and a curling sheet will be opened in the center. The center will be equipped with an indoor parking lot for 600 cars.
The Kontinent center in Zvezdnaya is the third in the network of popular Kontinent shopping and leisure centers. The first two centers were opened for visitors in 2006 and 2007 in Kirovsky and Primorsky districts of St. Petersburg. The construction of the 65,000 sq.m. Kontinent shopping and leisure center in Zvezdnaya street is planned to be completed in 3Q 2013.
Adamant Holding was founded in 1992, and now it is the largest developer not only in the North-West region, but also in Russia. Adamant holding incorporates the St. Petersburg largest network of shopping and leisure centers with 24 objects of over 850,000 sq.m. total area. Several objects of over 350 000 sq.m. total area are at design and construction phase. Their opening is planned for several coming years. In addition to construction of operation of shopping and leisure centers, Adamant Holding incorporates over 50 companies and business units.
North-West Regional Center was created on the basis of VTB Bank North-West. The regional center is responsible for VTB Group’s business development with corporate customers in the North-West region of Russia, and supervision of VTB Bank’s branches in St. Petersburg and the Leningrad Region, as well as in Arkhangelsk, Vologda, Pskov, Kaliningrad, Novgorod, Murmansk, Kirov regions, the Republic of Komi, and the Republic of Karelia.