OREANDA-NEWS. November 9, 2012. ITERA International Group of Companies has completed erection of a spike on top the Parus, the first Belarus skyscraper. This structure increased the building’s height by almost 15%. In result, the country’s highest building overtops the city from the Republic’s record 133 meters height. The national colors of Belarus and the corporate flag of ITERA International Group of Companies are set up on the spike.

The Parus is located in downtown Minsk. The spike is a part of the skyscraper project. Commissioning of the complex is planned for 2013. The total cost of the Project is assessed at USD 54 million.

There are 1, 2, 3 and 4-room apartments with the areas varying between 61 square meters and 179 square meters in the apartment house. Ceilings in the apartments are 3 meters high. Two-level penthouses are located in top floors of the building. Penthouses have access to a solarium. Besides floor space, the Parus project has commercial real estate including administrative and office space, as well as social and household premises with a total area of 6 328 square meters. About 40 % the commercial area in the basic part of the complex have been sold. The Company expects to reach full cost recovery by late 2013.

Erection of the Parus, the first skyscraper in Minsk, is one of the most ambitious projects in the country. It aims at setting up the improved standards of housing. The apartment house is located on a hill. It ensures a circular review of the city panorama. The building has the favorable transport position. It is located at the Timiryazev Street, Kalvariysky Street and Maxim Tank Street crossing. It is in an immediate proximity to Frunze subway station three quarters away from the Independence Avenue, the main street of the city.

The foreside of Parus is ventilated. It is finished with tiles made of ceramic granite and glass. It helps create favorable microclimate inside all premises. This foreside serves a sun-protection screen in summers, and it considerably reduces heat losses in winters.

A developer subdivision of ITERA International Group of Companies is doing construction work at its own cost and at borrowed funds. OJSC BPS-Sberbank is the Project’s creditor.