The Sberbank chapter in Stavropol is financing the construction of Dostoyaniye, the first family-friendly housing estate, by providing over RUB800 mln.

The agreement to issue the line of credit was signed by Stavropol office director Aleksey Chvanov and CEO of YugStroyInvest GC Yuri Ivanov.

The complex development will include 19 multi-story comfort-plus buildings, four social infrastructure facilities - three kindergartens and a school - as well as playgrounds and sports grounds, multi-level and underground parking lots, anti-vandal training equipment, pharmacies, shops, restaurants, a gym, and a sports facility.

The first houses will be commissioned as soon as in spring 2021 along with a day care center for 300 children.

Aleksey Chvanov, Stavropol office director, Sberbank,

'Sberbank offers wide support to the construction industry. Since the beginning of the year, as many as 17 project finance agreements with total worth of RUB5.8 bln have been signed in Stavropol Territory. We work with both developers and home buyers at every stage of construction. Today, all the facilities being built in the North Caucasus Federal District using escrow accounts are implemented exclusively with support from Sberbank. YugStroyInvest GC is our strategic partner with whom we've carried out several large projects. It is the second largest developer in Russia in terms of commissioned housing, and we are glad that we're implementing this large new project together as well.'

Yuri Ivanov, CEO, YugStroyInvest GC,

'Customers' trust plays a vital role in the success of any company today. Sberbank is a strategic partner of the YugStroyInvest group of companies, and cooperation like that is a reliable union. We have established comprehensive cooperation in many areas, such as project finance and mortgages, to name a few. The participation of a leading Russian bank in the implementation of the Dostoyanie family-friendly housing estate makes our project as secure and reliable as possible. In 2020, the company has started construction of 24 houses with a total floor area of ​​422,169.9 m2 using escrow accounts. Their aggregate financing stood at RUB15.5 bln. As for the terms of financing through escrow accounts at Sberbank, they guarantee transaction security for our customers. I would like to thank the top managers and professionals of Sberbank, who approach all tasks professionally.'

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Sberbank of Russia published this content on 20 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 August 2020 13:43:04 UTC