VTB Bank and RosStroiInvest group have signed a RUB 850 million loan agreement, which will see the bank part-finance the Zolotye Kupola low-rise residential development in Sertolovo, Leningrad Region, including utilities infrastructure provision. The funds will be offered as a revolving loan for a two-year period.
VTB Bank Management Board Member Denis Bortnikov said the project’s location in a well-connected suburb of St. Petersburg, its environmentally friendly territory, well-developed social infrastructure and affordability were all crucial advantages. “RosStroiInvest group has substantial experience and a solid reputation,” he noted. “We hope that the new project, implemented with VTB Bank’s financial support, will enable the company to consolidate its market positions and help provide people with comfortable housing options,” he added.
RosStroiInvest is currently building the first stage of the Zolotye Kupola development, comprising 14 four-story buildings with 1,466 flats. The first stage of the project is slated to be launched in the fourth quarter of 2016.
Fedor Turkin, Chairman of RosStroiInvest’s Board of Directors, stressed that all corporate projects have remained highly popular with clients and featured well thought-out infrastructure solutions comprising innovative and striking ideas. “Although some alterations are required due to economic environment, and although today’s real estate market is different from that we enjoyed before, we continue to develop better offers for clients in line with our ‘Affordable Comfort’ concept,” he said. “Working with VTB, a major national bank, in this comprehensive development project is testament to our good financial standing and endorses our position on the market,” he added.
The comfortable Zolotye Kupola development will include five stages with a total area of over 215,000 square metres. A forested park and lakes are located in nearby Sertolovo. The project also envisages the construction of a school and sports stadium, two kindergardens with swimming pools, a cultural centre, a sport and fitness zone with exercise machines, bicycle lanes, as well as a children’s amusement park. The development will also feature retail outlets, pharmacies, a petrol station, and picnic and barbecue areas.