In a deal worth $500m, Sozidanie Agency for Land Development, a subsidiary of Russian developer Setl City, bought 147 ha in St Petersburg’s Moskovsky district from Morgal Investments for its Planetograd project. Dentons advised the seller. The scheme includes approximately 1.5 million sqm of low-rise residential housing, as well as various transportation, utility, social and commercial infrastructure on 240 ha. Yashar Architects is overseeing the project’s planning and urban design. Completion is planned for 2030, with costs expected to total €1.9bn.
