Sber is financing the construction of phase four and five of the housing estate ID Kudrovo by providing RUB 7.7 bn. Located in the city of Kudrovo, Vsevolozhsky District, Leningrad Region, Russia, the project has an aggregate floor space of 89,000 square meters.

We find it important that the projects we finance comply with Sber values and the ESG agenda that we pay special attention to. In the framework of the new deal with Euroinvest Development, funds will be allocated for the construction of a housing estate, but they will also cover the ESG costs our partner faces, i.e. comprehensive development and social infrastructure development. We have been working with the company for only a year, but this short time has been enough to see that this developer is professional and responsible when it comes to construction. Sales are ahead of schedule with all housing estates that we finance, major savings are being built in escrow accounts, which enables us to cut interest rates dramatically.

Vladimir Sitnov

Senior Vice President, Sberbank

The twelve-story houses are located in a fenced area with open parking lots for cars, bicycles, rooms for strollers and storages in each section. Multi-story parking garages, three kindergartens and a school for 825 kids are scheduled for construction near the houses. Also, a coffee joint and a common 120-square-meter room where residents can interact with each other will be opened by the houses.

Sber works with Euroinvest Development Group as a partner on three residential construction projects. These housing estates are: ID Kudrovo, ID Murino, and ID Moskovskiy.

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Sberbank of Russia published this content on 01 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 July 2021 12:20:01 UTC.