28 Oct '08
Samara-based developer Finstroy has announced plans to build a large residential complex in Samara whose costs could top $1.2bn.
The company said that Gazprom would be a co-investor by purchasing 63,000 square meters of residential space in the complex. The company hasn't named other investors.
The compalex, to be named Novaya Samara (New Samara), is reportedly to be built on a 58-hectare site along the Moskovskoye Chausse.
Under plans, the complex will be kitted out with 10- and 16-storey apartment buildings fitting round 10,000 apartments with a total residential area of 650,000 square meters. A total of 26,650 residents would live in the complex, the firm said.
Under the project, the complex will also have two schools, three kindergartens, out-patient medical center and other social facilities.
Construction is scheduled to get underway by the end of the year and last up to six years.