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VTB participates in renewal of a residential neighborhood in Odintsovo

5 July 2011

VTB participates in renewal of a residential neighborhood in Odintsovo.

VTB Bank has signed a RUB 700 million loan agreement with Grancitistroy to finance construction of a residential house in housing block 2, Odintsovo. This project is a part of comprehensive renewal program in this neighborhood related to the demolition of five-storey buildings and construction of residential houses and social facilities.

The project is developed by Rantekt-MFD. Total area of the house is 38,935 sq.m., including living floor space of 27,724 sq.m. 13,606 sq.m. will be used for resettlement of dwellers of five-storey buildings to be demolished under the neighborhood renewal project.

Comprehensive renewal of the neighborhood includes construction of sixteen monolith and brick buildings with a total area of over 630,000 sq.m, with non-residential premises on ground floor and underground parking, as well as renovation and construction of social and cultural facilities. Old five-storey houses will be demolished, and dwellers will be granted new apartments.

Earlier, under the comprehensive renewal program, VTB had financed the construction of two buildings with total area of about 55,000 sq.m. These houses have been completed and populated.

The renewal program was launched in 2004. Construction works are estimated to be finalized in December 2019.

For reference:

Rantekt-MFD was founded in 2002. Over the years, the company has established itself as a reputable construction company with a standing of a reliable partner. Its specialists have participated in construction, renovation and commissioning of many unique civil and defence objects in Moscow, Moscow Region and abroad. Rantekt-MFD is one of the most dynamic companies in the real estate market of Moscow Region and Odintsovo in particular. 

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