Limitless awards Moscow project contract
Dubai, October 29, 2012
Dubai property firm Limitless and leading Russian real estate group RDI have jointly awarded a contract worth Dh37 million ($11 million) for more apartment buildings at Zagorodny Kvartal, the mixed-use community project north-west of Moscow.
The joint venture partners have appointed Moscow-based Fodd as general contractor to construct another two towers, containing 78 residential units and scheduled for completion in the fourth quarter of 2013.
Fodd is also building two other apartment blocks under an Dh37 million contract, awarded earlier this year.
The phase one of Zagorodny Kvartal, due for completion in early 2015, will comprise 700 apartments and 46 town homes.
Five apartment towers and the first phase of townhouses are currently under construction, with more contracts due shortly. So far, more than 60 units have been sold to investors in Russia, with a Dubai sales launch planned soon.
Located 24 km north-west of Moscow, Zagorodny Kvartal (which means Country Quarter in Russian), is being constructed alongside the Moscow Canal.
It is designed to bring the great outdoors into the everyday lives of residents and visitors, providing quality urban-style accommodation in a countryside setting. The project will span 111 hectares and accommodate 14,000 people when it is fully completed.
Zagorodny Kvartal will be at the heart of the one of the most rapidly-developing districts in the Moscow region. It is 4km from Sheremetyevo International Airport, 8 km from the Moscow Ring Road and 10km from Kimki Business Park.
Highway upgrades planned for 2012/2013 will provide quick, congestion-free routes to and from the Russian capital, and a new high-speed toll road will mean easy connections to St Petersburg.
Residential units for sale in Zagorodny Kvartal phase one include studios, one, two and three-bedroom apartments and two, three and four bedroom townhouses.-TradeArabia News Service