Planetograd is Supported by the Government of St. Petersburg
2014 may 22
On May 22nd, in the framework of the St. Petersburg Economic Forum, an agreement was signed between St. Petersburg and Morgal Investments Ltd as to cooperation in implementing the Planetograd investment project. The bilateral agreement was signed by St. Petersburg Governor Georgy Poltavchenko and General Director of Morgal Investments David Gitterman.
Under the agreement, the investor is to implement the project according to the approved parameters and indicators, while the city is to take the necessary actions in accordance with the legislation in force to support and render timely comprehensive assistance to the investor in matters related to project implementation.
Planetograd is a large-scale integrated development project being implemented on the total area of 239.71 hectares, near the Pulkovo Heights, to the north-west of the intersection of Pulkovskoye and Volkhonskoe highways within the boundaries of reference quarter 7723B in the Moskovsky district of St. Petersburg. The developed area is owned by the investor, Morgal Investments Ltd.
The project consists of 8 blocks, including five residential blocks (low-rise buildings 12 to 18 meters high), two blocks of commercial development (shopping and service facilities) and one cultural center of the entire developed area.
All in all, it is expected that 1.477 million sq. m of housing, 276,500 sq. m of commercial spaces, underground, above-ground and free-standing parking lots for 24,250 cars, 211,400 sq. m of social objects (9 kindergartens for 1,780 kids, 8 schools for 5,775 pupils, a children's outpatient clinic, and a culture and arts facility) will be built by the year 2022. The total area of landscaping will be 81 ha.
Total investment in the project is estimated at 104 to131 billion roubles, including 9.6 billion roubles to be allocated for the construction of the social infrastructure.
The Setl Group holding company, a big St.Petersburg developer is the co-investor in the project. In May 2013 a contract of lease was made with the option to purchase one block 40 ha in area. About 400,000 sq. m of housing, 2 schools (for 550 and 825 children) and 2 kindergartens (for 220 kids each) will be built in this block. The first stage of the construction is to start in 2014. Simultaneously with the construction of the houses of the first stage, Setl Group will be building a kindergarten and a school, to be commissioned simultaneously with the residential houses. The estimated investment of Setl Group in its part of the Planetograd project is 26.5 billion roubles.
Companies of Setl Group holding