OREANDA-NEWS. December 24, 2012. Project financing for the 4th stage of the “Vienna” block being constructed by the developer company Setl City (part of Setl Group) under the “Seven Capitals” project in Kudrovo is launched in OJSC BFA Bank. The credit line with a limit of RUB 2 billion has been provided until October 2014. The total amount of investments in the construction of the 4th stage (houses 41, 42, 43, 44, and 45) is estimated at RUB 3.6 billion.

The 4th stage, the construction of which has started this year in summer, includes five projected houses of different heights - 11 to 25 floors. The buildings will house 1,745 apartments with a total area of 66,000 sq.m with commercial space area of about 4,000 sq.m provided for on the ground floor. The commissioning date is scheduled for Q2 2014. Sales of apartments are opened in three houses out of five. Please, visit www.setlcity.ru to look through the project declaration.

Let us note that it is not the first time when Setl Group cooperates with BFA Bank. Thus in June 2012, the two companies entered into a loan agreement to finance the “RIO” apartment area being built by Setl City at Dalnevostochny Prospekt.

Setl Group Holding, operating since 1994, is now one of the largest financial and industrial associations in northwest Russia. The Holding consolidates a number of businesses specializing in development, services, general contracting, construction material sales, brokerage operations in the residential and commercial real estate, as well as consulting.

OJSC BFA Bank specializes in integrated services for big business and individual solutions for private clients. The bank was established on November 5th, 1993. In 2012, Expert RA rating agency confirmed BFA Bank’s credit rating at A+ level - A Very High Credit Solvency Level, the international rating company Standard and Poor’s has assigned long-term and short-term counterparty credit ratings B/B to BFA Bank, the forecast is stable. Assets of the bank as of October 1st, 2012 amount to RUB 56.7 billion; capital of the bank amounts to RUB 6.7 billion.