The“Renaissance of St. Petersburg Construction corporation” together with Raiffeisenbank launches a new mortgage program aimed at financing purchase of de Luxe real estate in residential compounds “Paradny Kvartal” and “Dom u morya” located in the center of the Northerncapital of Russia.
According to the terms of the mortgage program the clients ofRaiffeisenbank can raise a loan in rubles or US dollars for up to 25years. The minimum sum of a down payment amounts to 15 percent of thecost of the purchased real estate. Raiffeisenbank provides a loanamounting to US $, 15,000/400,000 rubles. The sums exceeding $,1,000,000/27,000,000 RUR are considered on a case-by-case basis.
Marketing and sales director of OAO“Renaissance of St. Petersburg Construction corporation” Olga Klushina pointed out that “clients often ask questions concerning the advantages of mortgage lending for purchasing de Luxe real estate. The main advantage for such customers is explained by the fact thatthe current yield of their business exceeds the bank’s mortgage loan interest rate. Besides, customers have an opportunity to raise a long-term loan and live in a de Luxe house gradually paying off their loan and do not have to wait for many years until they save enough money. It is also necessary to take into account the fact that real estate prices continuously grow”.
“The joint program with the “Renaissance of St. Petersburg Construction corporation” is of primary importance for us as well. We are very glad that at the present moment Raiffeisenbank can offer its clients a wide spectrum of mortgage products including loans for purchasing de Luxe real estate”, Member of Raiffaisen Board, Head of the front office for contacts with natural persons Roman Vorobiev pointed out. “The “Renaissance of St. Petersburg Construction corporation” is one of the largest construction companies on the market, andwe are sure that our cooperation will be mutually profitable and our clients will be able to appreciate its advantages”.
ÎÀÎ The “Renaissance of St. Petersburg Construction corporation” is the leader on the St. Petersburg market of elite real estate. The corporation was founded in 1994. For 12 years of its activities the “Renaissance of St. Petersburg Construction corporation” has efficiently implemented 27 projects in the most prestigious, complicated and strategically important areas of St. Petersburg’s historical center, which means about 50 housing facilities and 5 business centers. In 2005 the following facilities were put into operation: a business center, the 14th line, V.O., 7à, a residential building, B. Morskaya St., 4, the 1st phase of the project aimed at constructing a residential compound, Naberezhnaya Robespierre, 4, the 1st and the 2nd phases of a project aimed at constructing a residential compound,Shpalernaya St., 60. The total area of the commissioned objects is 70 thousand sq. m. In 2006 construction works aimed at completing the 1st stage of “Paradny Kvartal”, i.e., the first up-market district of St. Petersburg, new houses belonging to a so called “Kamennoostrovskaya collection”, Shpalernaya, 60, Naberezhnaya Robespierre, 4, “Dom u morya”, business center Apollo continue. New projects are on the agenda.
ZAO“Raiffeisenbank Austria” occupies the 9th position among Russia’s major banks in terms of the amount of assets according to the outcomes of the 3rd quarter of 2006 (The Center for Economic Analysis, Interfax). Nowadays, the Bank has 20 branches in Moscow, 5 branches in St.Petersburg, regional branches in Ekaterinburg, Samara, Novosibirsk, Chelyabinsk, Nizhny Novgorod, Krasnodar, Krasnoyarsk and Perm. Raiffeisenbank occupies the 9th position in terms of the amount of the corporate loan portfolio according to the outcomes of the 3rd quarterof 2006 (The Center for Economic Analysis, Interfax). Among Russia’s leading retail banks Raiffeisen occupies the 8th position in terms of the amount of credits for private persons and the 8th position in terms of private deposits according to the outcomes of the 3rd quarter of 2006 (The Center for Economic Analysis, Interfax).
ZAO“Raiffeisenbank Austria” is an affiliate company of Raiffeisen International Bank Holding AG (Raiffeisen International); the Holding manages bank affiliates and affiliated leasing companies on 16 markets in Central and Eastern Europe. Over 2,775 branches render services to11.7 mln. clients. Representative offices in Lithuania and Moldova expand the presence of the Group in the region. Raiffeisen International is a completely consolidated affiliate company of Raiffeisen Zentralbank Austria AG (RZB) owning 70 percent of Holding’s common capital stock, the remaining 30 percent are in free circulation and traded on the Vienna Stock Exchange. Being the lead bank of the Raiffeisen Group, the largest banking group of Austria, RZB is the leading corporate and investment bank and the leading bank of Austria.