Sberbank CIB, the corporate and investment banking business of Sberbank, has provided financing for the construction of the Tsentr Siti residential area. The project is being implemented by Renova Group with the involvement of its subsidiary KORTROS Group. Financing totalling 6.3 billion roubles has been provided for five years.
The funds will be used to construct the first stage of the Tsentr Siti residential area, which is in the immediate vicinity of the Moscow City business centre. Tsentr Siti consists of several modern residential business class skyscrapers surrounded by well-arranged social and commercial infrastructure. The first stage of the project involves the construction of three residential buildings with up to 51 floors and a kindergarten.
Sberbank CIB finances other projects of KORTROS Group in Moscow, Saint Petersburg, Ekaterinburg, and Yaroslavl, too.
“We are taking active efforts to expand cooperation with reliable developers that create new spaces and favourable conditions for people,” said Natalya Shemanovskaya, Managing Director, Head of the Real Estate Division of Sberbank CIB’s Largest Client Coverage Department. “Our partner, KORTROS Group, is one of such companies.”
Sberbank CIB1 is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance (including trade finance), the documentary business2, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.