the Company "UGMK-Builder" (building division of UMMC) has received project funding from the Ural Bank of Sberbank of Russia for the construction of two residential buildings of the II stage of construction of residential district "the emerald forest". Funds are allocated in the framework of the agreement signed by UMMC and Sberbank in July 2019 at the X international industrial exhibition "INNOPROM-2019", the total amount of RUB 1.4 billion in the First tranche of the company "UMMC-Builder" was received in a few days.
Its flagship development project – district "the emerald forest" the company "UGMK – Builder" builds in the Northern residential area of Mansfield, around a unique ecological zone, forest-Park "Pyshma lakes." Its membership will be comprised of 13 blocks with residential buildings and all necessary social and recreational infrastructure. The area will be 124,9 hectares, for residential development allocated to 40.7 ha, the volume of the housing is 712,12 thousand m2.
the First phase of construction involves the construction of houses at 18 and 30 floors of 396 apartments with a total area of 24.5 thousand m2. Construction work began in September 2018 and June 2019, respectively. 18-storey building will be commissioned in December this year, all the apartments there are already sold. Sales of apartments in the second house made up 69%.
the Second stage of construction of "emerald forest" - two more homes in 22 and 25 floors (358 apartments with a total area of 23,2 thousand m2), started in September 2019 in the framework of financing of the savings Bank.
- In connection with the entry into force of amendments in 214-FZ and the transition to project financing of the construction objects with the use of escrow accounts, banks have significantly increased the requirements for lending to property developers. So today not all companies have the opportunity to sign relevant agreements with the banks. We were among the first developers of Yekaterinburg that received financing from Sberbank. The Bank's experts conducted a rigorous audit of the company's activities, the evaluation of the documentation and all possible risks. Cooperation with the savings Bank thus serves as a guarantee of our reliability and the fact that the sites will be built and to surrender in time, - said the head of development projects "UMMC-Builder" Eugene Mordovin. - Given the high demand for apartments in the "emerald Bor," we have already started designing several houses for the next stage of construction, which will be conducted on the basis of project financing with the use of escrow accounts."
- Building projects being implemented by UMMC Ekaterinburg to change and provide thousands of residents a new life in a modern, comfortable environment. We are pleased to be part of these large-scale processes, – said earlier the Chairman of the Ural Bank of Sberbank Vladimir Cherkashin.
remember, 1 July 2019, came into force amendments to the FZ-214 "About participation in share building of apartment houses and other objects of real estate", changed the system of financing of housing construction. Since that time, the funds of shareholders are not received, the developer directly, and are sent on a special Bank account (escrow account). The developer receives them in full only after delivery of object in operation, and the construction is financed with attraction of targeted Bank loans (project Finance). Such measures taken by the government to protect the interests of participants of shared construction.
Note, in 2018 in Yekaterinburg has launched three related projects related to the development of the Northern part of the city. In addition to the construction of "emerald forest" we are talking about the construction of the light rail line that will connect the Top Pyshma and Ekaterinburg, and also the largest in the Urals, the SEC "FAN Mall" (which will be located in the vicinity of the new district). All the objects are located on adjacent land plots. Their simultaneous implementation will require over 46 billion rubles of direct investments and will translate for "the emerald forest" modern and comfortable for residents the concept of a "city in gorode".
in addition to "the emerald forest" Sberbank intends to Finance another 1.5 billion rubles and other real estate development projects construction division of UMMC, at different stages of implementation: second stage of construction of the residential complex of business class "upper" and the final stage 4 of the first stage of the LCD business and the elite class of "Makarov". We will remind, under the terms of all the agreements signed at the exhibition "INNOPROM", Sberbank will allocate UMMC 23 billion rubles, 20 of which will go to the development of the resource-base and ensuring current activities of the holding, and 3 development projects.
