CBOM to fund Samolet Group construction project
Credit Bank of Moscow (CBOM) has allocated Samolet Group PJSC the first tranche of a 2.3 billion ruble project loan for the construction of the second stage of the Kvartal Nekrasovka residential complex.
The second stage covers the construction of two monolithic varied-height comfort-class buildings with a total area of 52,693,5 sq.m. The developed area will include playgrounds and sports fields, as well as recreation areas. Deciduous plants and lawns will give the yards a finished harmonious appearance.
In the second-phase buildings, customers can choose from a range of apartment layouts ranging from 22.7 to 106.5 sq. m. and with ceilings 2.75 m high. A total of 767 apartments will be commissioned, all in finished condition. The construction of buildings No. 5 and 6 is planned to be completed in Q1 2022.
Samolet Group's Kvartal Nekrasovka residential complex is located in a fast-growing area in South-Eastern Moscow with a well-developed social infrastructure. The project is located just 590 m from the Nekrasovka metro station. A total of nine buildings will be constructed under the project. Customers can buy apartments in finished condition for 4.7 million rubles.
Andrey Pakhomenkov, Managing Director of Samolet Group: “Kvartal Nekrasovka is the fifth project in the Samolet Group portfolio, where apartments will be sold via escrow accounts. More than 50% of the company’s apartments and suites are already being sold under the new scheme. It is important for us that our new projects get support from well-respected financial partners, such as CBOM, one of Russia’s largest banks.”
Development is one of the key business areas for CBOM. The bank is constantly coming up with new financial instruments that are popular with market players. We are ready to provide funding to developers at all project stages: from acquiring land and pre-project costs to bond floatation and creating utility payment services. Samolet Group is one of the bank’s key partners with whom we hope to expand our cooperation. The construction of the Kvartal Nekrasovka residential complex in partnership with CBOM will make the project more attractive thanks to the use of escrow accounts,” Kirill Filipenkov, Director of CBOM's real Estate Customer Relations Department , commented.
For Samolet Group, the first real estate projects implemented with the use of escrow accounts are the Ostafyevo and Alkhimovo residential complexes built last year. This year, besides Kvartal Nekrasovka, the list includes the Novodanilovskaya 8 business-class project.