Sberbank is financing the developer OOO SZ Invest Grup with with a four-year loan of RUB 5.8 billion for the construction of the KIT housing estate in the city of Mytishchi, Moscow Region. The project has a total floor area of 70,900 sqm. The apartments will go on sale before completion, with the money to be held in escrow accounts until handover. “The bank’s loan portfolio of housing developers keeps growing as we regularly finance interesting projects throughout Russia, including those under the soft lending program run by the Ministry of Economic Development. Part of the loan to finance the construction of this housing estate has been provided under this very program with a preferential loan rate,“ said Vladimir Sitnov, Senior Vice President, Sberbank.
