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VTB launches multifunctional apartment complex in Moscow

 
30 September 2015

VTB launches multifunctional apartment complex in Moscow .

VTB Project, a subsidiary of VTB Bank, has begun construction and sales for a multifunctional business-class complex situated across from Victory Park on Poklonnaya Hill in Moscow.

The complex covers a total area of about 200,000 square metres. Investment is estimated at over RUB 17 billion.

Project developer Volley Grand came under VTB Bank’s control following the settlement of its debt issues. Construction will be implemented with financial support from VTB Bank.

The project will be executed under an equity financing arrangement. Apartment prices start at RUB 4.6 million.

Match Point will be use the latest construction methods. Natural materials will be used for the exterior.

The residential segment of the complex includes over 1,600 apartments, from small studios to spacious apartments with recessed balconies, ranging in size from 28 to 185 square metres. All of the apartments will be fully finished before sales. Apartments will come with 31 different style and colour solutions.

Match Point will feature a 3,500-seat volleyball arena with a total area of about 30,000 square metres, including an underground level with exercise rooms and private parking.

The arena’s construction is supported by the Moscow Government as part of a programme to build 24 sports facilities in Moscow. The volleyball arena will serve as a base for the popular Moscow volleyball club, Dinamo. The space zoning at Match Point is designed so that apartment owners and fans attending sporting events will never cross paths.

The target audience of the complex includes young families who want to live near Moscow’s busy downtown area, as well as long-term real estate investors looking to derive income from renting out the apartments. The rental income level is comparable to bank deposit interest rates.

Senior Vice President of VTB Bank and project manager Vladislav Melnikov said: "We believe that our complex will be an architectural highlight of Moscow's prestigious Western Administrative Area. The class of the building, its high-quality characteristics, its sports component and the high status of the area will make the acquisition of an apartment in this complex a truly lucrative proposition." Buyers of Match Point apartments will have access to a special mortgage programme that will offer affordable rates from VTB 24 and the Bank of Moscow. The complex is scheduled for completion in the fourth quarter of 2019.

Tags:
development

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