Rose Group and Sberbank CIB sign strategic partnership agreement
Rose Group and Sberbank CIB have signed a strategic partnership agreement at MIPIM 2014. In accordance with the agreement, developer company Rose Group will consider Sberbank CIB as a strategic partner for providing financing of up to RUB 20 billion for the construction of stages 3-7 of its flagship project “Microcity “V lesu”.
Together with Sberbank CIB, Rose Group has been implementing the project to construct comfort-class residential project “Microcity “V lesu” on Pyatnitskoye Highway in the Moscow Region district of Krasnogorsk since 2011. Construction of the first stage of the project has been successfully completed and permission has been received to commission three buildings. Rose Group is currently constructing the second stage of the project.
Andrey Nesterenko, CEO of Rose Group, commented: “The “Microcity “V lesu” project is developing dynamically: soon the first tenants will move into the buildings constructed during the first stage. The second stage is under construction. We are starting to design the third stage, but at the same time we already have a clear concept for the further development of our entire immense project. Since the beginning Rose Group has regarded the development of Microcity as a project that includes not only apartments, but also features well-thought-out infrastructure where all the buildings are woven into a single space that is comfortable for both working and living. It is not possible to bring these kinds of plans to life without a reliable strategic partner. For us, that partner is Sberbank CIB.”
Natalya Chibrikova, Head of Real Estate Unit of the Corporate Clients Division, Client Management Department at Sberbank CIB, Managing Director, remarked: “Sberbank CIB has been a strategic partner to Rose Group since the launch of the “Microcity “V lesu” project. We are pleased that thanks to our cooperation, one of the largest Moscow Region comfort-class real estate projects and its accompanying social infrastructure will be built.”
Dmitry Kanushkin, Managing Director, Head of Real Estate Finance Division of the Loans Department at Sberbank CIB, commented: “Rose Group has been one of the pioneers of construction of residential and commercial real estate in Moscow and the Moscow Region since the beginning of the 1990s. Since its founding the company has executed a number of iconic high-class real estate projects. We value the experience of cooperating with Rose Group and plan to develop this cooperation in the future. As a result a large number of high-quality residential real estate properties will be constructed in Moscow and the Moscow Region.”