“Orbita” residential complex commissioned ahead of schedule

28.11.2012

On November 26, 2012, a commissioning permit was obtained by the company for the third block of “Orbita” residential complex. The building was assigned the address: Gzhatskaya str., 22, bldg 1, lit. A. Its total floor space is 45,036.5 square meters.

To implement the project, in 2011 CJSC SSMO LenSpetsSMU and OJSC Bank Saint Petersburg, in partnership with Landesbank Berlin AG (Germany) and Budostal-3 Export, a Polish construction company, entered into an international construction financing deal. The deal structure involved financing of 85% of the construction costs by OJSC Bank Saint Petersburg. The funds borrowed will be repaid in four equal installments.

By commissioning the third apartment block, the company has successfully completed the project on construction of “Orbita” residential complex, which comprises four housing blocks having a total living space of over 207 thousand square meters.

CONTACT DETAILS:

Kseniya Savchuk

Acting head of Public Relations

+7 (812) 348-21-25

Kseniya.Savchuk@etalongroup.com

Yana Yashchenko

Deputy CFO

+7 (812) 348-09-95

Yana.Yashchenko@etalongroup.com