VTB Bank has issued a loan of over 520 million roubles to KVS Sertolovo under KVS Group’s existing credit lines. The loan, which matures in four years, was issued to co-finance the construction of the low-rise Novoye Sertolovo (New Sertolovo) neighbourhood with a total residential area of 250,000 square metres in Vsevolozhsky District of Leningrad Region.
“Several large projects by KVS Group have won prizes for quality, including at the national level. This new low-rise neighbourhood will include comfortable living conditions and comprehensive recreation facilities. Considering its other attractions such as an affordable price and social infrastructure, it will certainly interest not only people in the Leningrad Region, but also active St. Petersburg residents,” said Denis Bortnikov, a member of VTB Bank’s Management Board.
The project is due to be completed by 2020. In addition to four- and five-storey buildings, it will have a large park, which will increase the appeal of Novoye Sertolovo, as well as a school for 825 pupils, two preschools for 210 children each, a stadium, basketball and tennis courts, and children’s playgrounds and recreation areas. The plans also include the construction of two public and business zones comprising a shopping centre with a movie theatre, a sports and fitness centre with a swimming pool, four-storey parking structures, a gas-fuelled boiler facility and open-air guest parking.KVS has been a client of VTB Bank since 2007, using its cash settlement, lending, bank guarantee and deposit services.