The Northwest Branch of Sberbank of the RF opened the credit line in favour of RBI (a subsidiary of RBI Holding) for the development project at 23 Novgorodskaya St.

  Within the frames of the strategic partnership agreement signed in January 2010 the Northwest Branch of Sberbank of the RF has approved the opening of a credit line in favour of RBI in the amount of 1,23 billion roubles. The funds will be used for the RBI landmark development project of a mixed-use complex at 23 Novgorodskaya St.

The complex at Novgorodskaya St. with total area of 50 000 sq.m. includes the “Alexandria” residential complex and the “Basel” Business Centre. It was designed by Ricardo Bofill, the world-famous Spanish postmodernist architect. The project is one of six financed under the strategic partnership agreement. It should be kept in mind that in January Sberbank and the construction company made an agreement on financing the current development program of the Holding (over 340 000 sq.m. in current and future projects) for the amount of up to 4,6 billion roubles during 2010-2017.

“Our bank has always supported and will support in future the new projects developed by reliable development companies. If a project is of good quality, its profitability complies with the bank requirements, and the development company has a reputation of a reliable borrower that can guarantee the construction schedule fulfilment and the timely loan servicing, we have no reasons to refuse. We are always ready for comprehensive cooperation with such companies”, said Alexey Kolchik, Deputy Chairman of the Northwest Branch of Sberbank of the RF.

“In my opinion, the major opportunity that is opened for us and for our customers by this open-limit financing is the possibility to realize the project in its initial form, exactly as we and Maestro Bofill saw it. It’s no secret that the crisis has made many companies operating in the elite sector to reconsider the level of their development projects in order to optimise costs. But there are no compromise solutions in the project at Novgorodskaya St. It is undoubtedly a high-architecture project with the ‘stuffing’ of the corresponding level and class”, said RBI Holding President Eduard Tiktinsky.

The mixed-use complex at 23 Novgorodskaya St. is the herald of changes that are coming soon to the business quarter near Smolny bounded by the streets of Novgorodskaya, Degtyarnaya and Krasnykh Tekstilschikov. Now the project is its next stage of development: two tenders are held at the same time – for the notching works and for the functions of the project general sub-contractor. The house at Novgorodskaya St. will have everything necessary for comfortable life and work. Its rich infrastructure includes a fitness center, a supermarket, a cafe, a pharmacy, a dry-cleaner and laundry, as well as a modern heated parking – everything that constitutes an essential part of life of a modern citizen.

Company Profile:

Open Joint-Stock Company Sberbank of Russia is the largest bank in Russia and in Central and Eastern Europe, its share in the total assets of the Russian banking system exceeds 30% and it is the major creditor of the national economy. The founder and main shareholder of Sberbank is the Central Bank of the Russian Federation (over 60% of voting shares). Among the bank shareholders there are over 200 thousand individuals and legal entities. The bank has the most extensive network of branches in Russia: 17 regional branches, over 20 thousand banking outlets and internal structural subdivisions, as well as subsidiaries in Kazakhstan and Ukraine.

The Northwest Branch of Sberbank of the RF operates in the territory of 7 subjects of the Russian Federation, namely Saint-Petersburg, Leningradskaya, Kaliningradskaya, Murmanskaya,  Pskovskaya and Novgorodskaya Oblasts, and the Republic of Karelia. At the moment the Northwest Branch of Sberbank of the RF has the most extensive network of branches in the region, it includes over 1 million banking outlets.

The bank holds the General banking license issued by the Bank of Russia No. 1481. The bank’s official web-site is www.sberbank.ru.

RBI (www.rbi.ru) is a subsidiary of RBI Holding that has been operating in Saint-Petersburg since 1993. During 16 years the company has developed 54 projects of different level with total area of over 835 000 sq.m. RBI Holding is among ten largest development companies by the volume of residential area commissioned in 2010.