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Setl Group and BFA Bank Complete the First Joint Project

2014 march 19

Setl Group has repaid ahead of schedule BFA Bank’s loan for the project funding of the RIO residential estate, which is being built in the Nevsky District of St. Petersburg. The loan for the total amount of 800 million roubles has been repaid 10 months earlier than the fixed date. Besides the RIO residential estate, BFA Bank is funding the construction of a number of other Setl Group’s projects, including the GreenLandiya residential estate (buildings 2 and 5), the Vienna estate (the 4th and the 6th stages, and a school), and the London residential area (the 9th stage). The RIO residential estate is situated at the intersection of Dalnevostochny prospekt and ulitsa Kollontay, in the Nevsky District of St. Petersburg. The building of the estate will consist of 10 sections of different heights, 3 and 15 storeys, with 1584 apartments, more than 80% of which have already been sold. Commissioning of the site according to the project declaration is to take place in the 4th quarter of 2014.

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Companies of Setl Group holding