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Setl City Signs an Agreement under Social Facilities in Exchange for Taxes Program for GREENLandiya Residential Estate

2013 november 07

The Government of Leningrad Region, the Administration of Vsevolozhsk Municipal District, the Administration of Murino Village and Setl City have signed a quadripartite agreement of cooperation in the construction of social facilities in the GREENLandiya residential estate. This is already the second Setl City’s agreement in the framework of the Social Facilities in Exchange for Taxes program. A similar document concerning the Seven Capitals residential estate was signed by the developer in October this year. All in all, Setl City is planning to build about 385,000 sq. m of housing, 6 kindergartens and 1 school in the area of 20 ha situated not far from the Devyatkino metro station. The construction of two kindergartens for 240 children all in all started in summer this year. Commissioning is expected in the 2nd half of 2015. It is expected that the construction of the school for 1150 pupils will be started in the 1st half of 2015 and completed in the 1st half of 2017. “The signing of this agreement is another step in the implementation of our target program for the construction of social facilities in Leningrad Region,” Ilya Yeryomenko, Setl City’s CEO, comments. “The simple and clear scheme of interaction with the state under the Social Facilities in Exchange for Taxes program makes it possible for us to provide our clients both with new housing and a new social infrastructure simultaneously.” At the moment, Setl City is building about 24,000 sq. m of future social infrastructure sites in Vsevolozhsk District: 3 kindergartens and 1 school in Kudrovo and 2 kindergartens in Murino. Till the year 2019 the company is planning to build 16 social facilities in Vsevolozhsk District of Leningrad Region, investing about 4 billion roubles. For that time the company will transfer more than 2.3 billion roubles to the budget of the region in taxes.

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Companies of Setl Group holding