Swedish Bonava to potentially invest RUB 17 bln into St. Petersburg construction project

The Saint Petersburg Committee for Urban Development and Architecture has approved a residential project designed by Bonava to be erected near the Okhta River, but issued recommendations to improve the project, according to the Press Office of the Committee for Urban Development and Architecture.

Swedish Bonava to potentially invest RUB 17 bln into St. Petersburg construction project

The Saint Petersburg Committee for Urban Development and Architecture has approved a residential project designed by Bonava to be erected near the Okhta River, but issued recommendations to improve the project, according to the Press Office of the Committee for Urban Development and Architecture. Bonava (formerly, before April 2016, NCC Residential Construction), jointly with iD (designer), presented to the Committee for Urban Development and Architecture a project devoted to the construction of a residential block at Magnitogorskaya Street. Investments to the residential development are going to total about RUB 15 billion. The company plans to construct approximately 140,000 sq.m. of residential space. The height of the buildings will vary from 2 to 15 floors. The residential block will feature two 80 children kindergartens and a building combining a 120 children kindergarten and 220 students primary school.