Volga | Real estate | Finance, business

Developer Nizhny Novgorod House gets $8.5m from Sberbank

13 May '09
Nizhny Novgorod developer Nizhegorodsky Dom (Nizhny Novgorod House) has taken out an $8.5m 1.5-year loan with Sberbank, the bank reports.

Interest rate has yet to be disclosed.

The funds are reportedly to be invested into ongoing construction of a residential complex in Nizhny Novgorod.

Under the project, the complex is a various-storey-level building with 54 apartments, offices and underground parking lot.

The building is scheduled to be put into commission in Q1 2009.
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