30 Apr '08
Gazprombank plans to invest up to $500m in various construction projects in the regions, according to Alexander Sobol, the firm's deputy chairman of the board.
As a result, the share of investment in real estate construction in Gazprombank's credit portfolio will be 5%–7%. The bank is also considering the attracting foreign partners into this sector.
Gazprombank has already invested over $700m in real estate projects through its SPV Gazprombank-Invest in such key cities as Moscow, Krasnodar, Yaroslavl, St Petersburg and Arkhangelsk. The bank invests in the construction of residential housing, office space and shopping facilities.