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Sun housing estate construction in Kuntsevo will be financed by VTB Bank
MOSCOW, RUSSIA - June 8, 2010 - Sistema-Hals (LSE, MICEX, RTS: HALS), a major Russian real estate company, announces signing a credit agreement with VTB Bank to finance the development of Sun housing estate and other projects in Kuntsevo. Under the terms of the deal VTB Bank will provide the financing of up to 2.3 billion of rubles for a period of 4 years.
Sun housing estate is a residential complex (GBA - 58 404 sq m) with a variable number of storeys (from 9 up to 30) and a four-level underground parking for 320 cars. Apartments (1-4 rooms) are effective and comfortable both by square and planning possibilities. Internal infrastructure will include medical center, service unit and children leisure center. Sun housing estate is to put into operation in 2013.
You can find additional information about Sun housing estate at www.sun-hals.ru.
Sistema-Hals ("the Company") is one of the leading diversified company in the Russian and CIS real estate market.
The Company was the first Russian property developer to list its shares on the main market of the London Stock Exchange. The Company's shares are also listed on the Moscow Interbank Currency Exchange and the Moscow Stock Exchange and the Russian Trading System Stock Exchange.
Main shareholders of Sistema-Hals are Bank VTB (51.24%) and AFK "Sistema" (27.6%); free float is about 18%.
Starting operations in 1994, Sistema-Hals has successfully completed about 40 projects with a total area over 450,000 square metres, including several residential complexes in Kuntsevo, the headquarters of the DaimlerChrysler company, the Hals Tower office building, the headquarters of the Trubnaya Metallurgical Company, the hotel for the MaMaison chain (Orco Property Group).
Sistema-Hals implements the development of the Leningradsky Towers complex in Moscow; carries out the complex program of redeveloping the facilities of the Moscow City Telephone networks; reconstructs the building of the Central "Detsky Mir" on Lubyanka, constructs LETO shopping center in Saint Petersburg and fulfils several other projects.
Sistema-Hals has assembled a balanced and diversified portfolio of assets in fast-growing sectors of the market. The Company's strategy is focused on building Class A and B office space, multifunctional retail and office complexes, business-class residential buildings.
For further information please contact:
Anna Zavialova
Tel. +7 (495) 785-7764
zavialova@sistema-hals.ru
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The information in the press release may contain forward-looking statements regarding future events or the future financial performance of Sistema-Hals. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could", "may" or "might" the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and those actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date thereof or to reflect the occurrence of unanticipated events.