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Setl City Commissions 5 Houses in the Vienna Residential Estate

2014 december 16

Setl City (a company of Setl Group) has been given the permission to commission houses Nos. 41 through 45 that have been built in the Vienna estate in the framework of the 4th stage of the Seven Capitals project in Kudrovo, Leningrad Region. There will be 1755 apartments in the 5 houses about 95,000 sq. m in total area, and 90% of them have already found their buyers. The first tenants have started to move in. Petersburg Real Estate is the exclusive broker of the project.

Integrated commercial spaces about 3,600 sq. m in total area will be situated on the ground floors of houses Nos. 41, 43, 44 and 45. According to owners’ and lessees’ plans, a foodstuffs supermarket, a pet shop, a pharmacy, a premium-class cosmetology parlor, a clinic for women, a multidisciplinary medical and laboratory center, a medical aesthetics clinic, and a beauty parlor will be opened here soon.

The BFA Bank co-funded the project for the construction of the 4th stage of the Vienna estate. A 2 billion roubles line of credit was granted for the period till October 2014 and was repaid on time. The total volume of investment in the construction of the 4th stage amounted to 4 about billion roubles.

It should be noted that the construction of 3 kindergartens and 1 school continues in immediate proximity to the commissioned houses. All in all, 7 kindergartens for 980 kids and 2 schools for 1700 pupils will be built in the Seven Capitals. 

Taking into account the commissioning of the 4th Stage of the Vienna estate, from the start of 2014 the companies of Setl Group have commissioned about 515,000 sq. m of real estate, which is 1.9 times more than in the last year.

It is to be recalled that, all in all, 14 houses about 245,000 sq. m in total area have been commissioned since the moment the implementation of the Seven Capitals project started. The construction of the Vienna estate is to be completed as early as next year, 2015, while the entire Seven Capitals residential area is to be completed in 2018.

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Companies of Setl Group holding