VTB has financed a new residential project of Level Group for 60 billion rubles

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AK&M 17 July 2024 14:09

VTB financed the acquisition by Level Group of the existing project of the residential complex "City in the Forest", and also provided project financing for the construction of future phases of the complex. This is stated in the bank's message.

The project was named "Level Forest". The total amount of the loan limit is 60 billion rubles for a period of 10 years. The deal allowed one of the leaders of the old Moscow development market to enter a new market – the Moscow Region.

The partnership between Level Group and VTB already involves the construction of about 520 thousand square meters of housing and four social facilities, apartments will be received by over 10 thousand families. 

According to the "Level Forest" project, the Level Group company will complete the construction of the 4th stage of the complex, as well as build new ones in the village of Otradnoye in the Krasnogorsk district of the Moscow region. As part of the completion of the current construction, the developer will erect 96 thousand square meters of real estate, in new queues – 336 thousand. In addition to housing, Level Group also implements commercial and social infrastructure in the project.

VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all major segments of the financial market. In the CIS countries, the group is represented in Armenia, Ukraine, Belarus, Kazakhstan, and Azerbaijan. VTB banks in Austria, Germany and France operate within the framework of a European sub-holding headed by VTB Bank (Austria). In addition, the group has subsidiaries and associated banks in the UK, Cyprus, Serbia, Georgia and Angola, as well as one branch of VTB Bank in China and India, two branches of VTB Capital Plc. in Singapore and Dubai.