Sberbank to finance construction of Arkhitektor housing estate in Moscow for more than RUB 15 bln
Sberbank will finance FSK Group to construct the Arkhitektor business class housing estate in the South-West of Moscow. As part of the project finance, a RUB 15.1 bln line of credit will be provided to the customer for five years.
Natalya Shemanovskaya, Managing Director and Head of the Real Estate Division, Sberbank:
“We have successfully cooperated with FSK Group for more than four years. It is very valuable for us that this challenging year we’ve managed to broaden our cooperation besides maintaining it. Today we finance three projects totaling about RUB 30 bln. The Arkhitektor housing estate is a new project in our portfolio. Sberbank is always ready to support its partners’ projects by offering convenient and favorable financing mechanisms.”
Vladimir Voronin, President, FSK Group,
“The Arkhitektor housing estate is a complex where all apartments will be sold using escrow accounts that will guarantee buyers that a deal with the developer will be reliable. The project is a large-scale one, with a two-level public space and is being built using the cast-in-place concrete technology. We plan to complete it in 2023.”The Arkhitektor housing estate is a residential complex of 1,421 apartments with the total floor area of 139,632 m2. It will be built on a 1,69 ha plot of land in Obruchevsky Region in Moscow close to the Vorontsovskiy and Yugo-Zapadnyy parks.