OREANDA-NEWS. April 18, 2011. The real estate development unit of the ITERA International Group of Companies launches a project related to construction of about 300 thousand square meters of affordable housing in elite Novorizhskoye highway of Moscow Region – the first stage of large-scale suburban housing complex "Pavlovy Ozera". The developer is Agidel, which is a part of the ITERA Group. Its partner, Vesco Group, will be responsible for arranging sales and marketing activities and consulting within the project.

The 150 – 300 square meters cottages as well as modern infrastructure will be built in a single architectural style on 60 acres in Istrinsky District. The entire "Pavlovy Ozery" residential complex will be located on 150 acres within 14 kilometers from Moscow.

Over 8.5 billion Rubles would be invested in the first stage of "Pavlovy Ozery" construction. The stage is scheduled to be completed in 2013.

The ITERA Group development business is represented with large construction projects, including “Minsk-City" Business Center with the first residential skyscraper "Parus" in the Belarusian capital, two racetracks and a hotel complex in Avaza resort area in Turkmenistan, office premises for the Organizing Committee of the 2014 Olympic and Paralympic Games in Sochi and other projects.

The ITERA Group is a vertically integrated holding company, one of the major independent natural gas producers and sellers in Russia. The ITERA Group includes 150 enterprises and companies in the CIS, Baltic States, Western Europe, Asia, Africa and the United States.

Vesco Group is a multi-profile holding which provides real estate services, implements investment and construction and development projects in Russia.