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.