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Setl Group Receives Funding from IBSP for the Construction of the GreenLandiya Residential Estate

2014 february 20

Setl Group has been granted a line of credit by the International Bank of St. Petersburg for the construction of the 2nd stage of the GreenLandiya residential estate being built in Murino at the border of St. Petersburg. The loan with the total limit of 2 billion roubles has been granted for 3 years.
 
The 2nd stage of GreenLandiya RE, the construction of which started in August 2013, consists of 3 houses 114,000 sq. m in total area. The buildings will house 1867 apartments, as well as 2 integrated kindergartens for 100 and 140 children. The commissioning of the site is expected in the 1st quarter of 2016. ‘Setl Group has been cooperating with the International Bank of St. Petersburg for already 3 years,’ Yan Izak, CEO of Setl Group, comments. ‘Thanks to IBSP, we have successfully implemented both development and general contracting projects.’ ‘The cooperation of the International Bank of St. Petersburg and the Setl Group is an example of efficient work in developing the economy and social infrastructure of St. Petersburg and Leningrad Region. The Bank is ready to implement similar projects both in construction and in other industries,’ Sergey Bazhanov, President of IBSP, comments.

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Companies of Setl Group holding