Total credit facility limit amounted to RUB 2 bln. and is designed for 3 years. The funding is aimed to construction of the 2 stage of GreenLandia Residential Complex which is built in Murino, at the boundary of Saint-Petersburg.
Construction of the second stage of the residential complex with the total area of 114 thousand sq.m. designed for 1,867 flats and including day-care centres and other social objects started in August 2013.
“Cooperation of International Bank of Saint-Petersburg and SetlGroup is the example of effective work aimed to develop economy and social infrastructure of Saint-Petersburg and Leningrad region. The Bank is ready to implement similar projects both in construction and in other sectors,” Sergey Bazhanov, President of International Bank of Saint-Petersburg commented.
“Setl Group has already been working with International Bank of Saint-Petersburg for three years,” Yan Izak, General Director of Setl Group comments. “Thanks to International Bank of Saint-Petersburg, we have successfully implemented not only development, but also general contracting projects.”