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Setl Group and VTB Bank Implement a New Joint Project to Fund the Construction of Setl Center BC

2013 may 29

Setl Group has opened a line of credit with VTB Bank in the framework of the project for the construction of the Setl Center business center in Moskovsky District of St. Petersburg. The amount of funding will be 600 million roubles, the estimated total volume of investment in the project being 1.8 billion roubles. The credit line is to be completely repaid before March 2018. The new 11-storey class B business center with an attached multi-storeyed parking garage for 290 cars is being built by Setl City (a company of Setl Group) at lit. A, 153, Leninsky Prospect. There will be 295 offices 21,100 sq. m in total area. The company plans to use about 7,000 sq. m of the spaces for its own needs. Other spaces are on sale, about 60% of the offices have been already sold. It should be noted that at the moment companies of the Holding Company continue implementing jointly with VTB Bank a number of projects, including the construction of the 2nd stage of the MORE Residential Estate and the renovation of the Mikhailovskaya Dacha palace and park ensemble being implemented in the framework of a respective state contract.

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Companies of Setl Group holding