OREANDA-NEWS. Sberbank CIB, the corporate and investment banking business of Sberbank, signed its fourth credit agreement, worth RUB 6.86 bln, with major client Ingrad Group.

Under the agreement Sberbank will finance the construction of a residential complex with an underground parking lot at the address: 17 Novocheryomushkinskaya Street, Moscow, and refinance a loan that the borrower took out at a different bank to fund the construction project.

Previously Sberbank entered into agreements with Ingrad Group to finance the construction of the following residential complexes in Moscow: 69 Vavilova, 12A Petra Alekseeva, and 31 Mikhailova.

“Financing the construction of modern, comfortable housing and social infrastructure is one of the key areas of our work, commented Natalya Shemanovskaya, Managing Director, Head of the Real Estate Division, CIB Largest Clients Coverage Department. “When operating in this area, we actively cooperate with representatives of the industry, including Ingrad Group.”

Ingrad Group is a major development company, which has been present on the Moscow real estate market since 2012. The Group specialises in building residential complexes in Moscow and the nearby Moscow suburbs. Ingrad’s portfolio amounts to 2.8 mln square metres of real estate. It has 16 development projects at varying stages of completion.