Sberbank CIB provides project financing to COALCO group of companies for construction of multi-functional complexes, namely Presnya City (2, Khodynskaya str.) and Basmanny 5 (estate 13, Ryazansky pereulok, Moscow).
Basmanny 5 project provides for construction of a complex of business class apartments in the Central Administrative District with the total area of about 26 thou. sq. m. The project financing of the object will be provided during four years.
Presnya City project provides for construction of a multi-functional business class housing complex in the Northern Administrative District, wihin walking distance from the metro stations "Ulitsa 1905" and "Belorusskaya", with the total area of over 100 thou. sq. m. The project financing of the object will be provided during six years.
These complexes are the joint projects of COALCO and MR Group as part of the strategic cooperation agreement where MR Group is a fee developer of COALCO's Moscow objects. The agreement provides for cooperation in realization of Moscow projects with the total area of 517 thou. sq. m.
Olga Dmitrieva, COALCO's General Director, commented on the deal: "These projects are significant for the cooperation between COALCO and Sberbank CIB. Our objects combine the key characteristics of a successful project, such as team experience, location and balanced price policy, so we are sure of their success on the market. Sberbank provided the project financing that is sufficient to completely terminate the construction of the said projects."