Sberbank to lend PGP developer $218m for Moscow project

Sberbank CIB, the investment arm {{{*}}} of Russia’s biggest lender Sberbank, plans to open a 10-year $218m credit line for the PGP developer to build a multi-functional shopping and entertainment centre in Moscow.

The plan is sealed in a preliminary agreement signed during this week’s MIPIM international real estate show in Cannes, France, Sberbank CIB said in a statement.

The Zelenopark shopping and entertainment centre will be situated in the Russian capital’s Zelenograd district.

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