VTB Funds Samolet Group's Ostafyevo Project
VTB Bank and the Samolet Group have signed a financing agreement worth 10.4 billion rubles for the Ostafyevo project development.
The loan will fund the construction of the second stage of the Ostafyevo residential complex. As part of this stage, four 14-storey buildings with a total area of 166,000 square meters will be commissioned. The construction is planned to be completed in Q3-Q4 2021.
Yury Solovyev, First Deputy President and Chairman of VTB Bank, noted: "For us, the deal with the Samolet Group is the first project financing agreement where apartments will be sold using escrow accounts. We are pleased to start cooperation with one of the largest developers in the Moscow Region, and we'll foster it in different ways. VTB Bank works with most of the major developers on the real estate financing market and has unique experience that we use to constantly expand the range of financial solutions for our clients."
Andrey Pakhomenkov, Managing Director of the Samolet Group, said: "When it comes to project financing, reliable partners from the banking sector are the key to the developer's stable operation and further growth. Cooperation with VTB shows that the Samolet Group is able to create high-quality in-demand projects and demonstrate a high level of financial stability of the company to meet partner's standards set for the leaders of the Russian credit market."
Buyers of apartments in the Ostafyevo residential complex are also offered special mortgage lending terms at VTB Bank at an interest rate of 0.5% p.a. for the first year of lending (subsidized by the developer) and at 6.5% for the remaining period, subject to comprehensive insurance, a minimum 15% down payment and a loan of up to 12 million rubles.
The Samolet Group revised its approach to space organization when designing the second stage of the complex. The changes relate to the decoration of apartments and common facilities, as well as landscaping. The ground floors now feature lobby areas with natural lighting and a comfortable waiting area, as well as areas for storage of strollers and vertical bicycle parking. Courtyards of the new buildings will be designed in "courtyard park" and "car-free courtyard" concepts, which will make them more comfortable for residents. The closed courtyards will only have playgrounds for children under 12 and reading gardens, while sports grounds and ping pong tables will be outside the courtyards. The designers considered all-year-round use of all playgrounds and public areas.
Transport accessibility of the facility also improved: the Ostafyevo station of the MCD-2 line opened near the housing complex at the beginning of 2020. These changes make the Ostafyevo housing complex more competitive while raising its appeal to buyers.
Apartments sales are already underway. Buyers can choose from 22.9 sq. m. studio apartments to 90 sq. m. four-roomed flats. They can choose from a variety of layouts, including traditional and European ones.