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Business news
Saint Petersburg Bank and Setl City launch construction of commercial development
04.02.2007 16:14

money Saint Petersburg Bank and the Setl City construction company have launched construction of a 150,000 square meter commercial development in central St. Petersburg, according to a press release from the bank.

The development, due to be completed by 2012, has been designed by the German architectural firm Tchoban and Partners and the St. Petersburg firm Yevgeny Gerasimov and Partners.

Investment in the project is estimated at $430 million.

The dominant feature of the complex will be the 25-story Saint Petersburg Bank building, which will meet the most advanced international requirements for a world-class bank. The bank will be surrounded by another 12-14 office buildings eight or nine stories high, all of which will be built to the highest standards, a RIA Novosti source said.

There are plans to complete the first stage of the development, including the Saint Petersburg Bank building, by early 2010; and the second stage will be finished by 2012. The project will be carried out in full compliance with high-rise construction regulations and will be one of the first examples of site development on a St. Petersburg embankment, the source said.

Saint Petersburg Bank is one of the biggest banks in the northwest of Russia and the third biggest bank in St. Petersburg. Its branches and offices serve over 460,000 individual clients and work with 30,000 companies.

News source: en.rian.ru
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