Construction and operation of multifunctional complex "Sochi City"

Region: Sochi, Krasnodarskiy kray
Industry: Real estate
Service: Business planning, business financing
Result: The project has passed the credit committee and was approved by public authorities of the Czech Republic due to the crisis in 2008 there were problems with project initiator’s own means and the project started later in another format.
Project name: Construction and operation of multifunctional complex "Sochi City" of the total area of 280 thousand square meters.

The complex is a Megacenter which includes residential areas, hotels, business centers and shopping and entertainment center.

Multifunctional complex "Sochi City" is built in the center of Sochi near the railway and bus stations, at the crossing of highways connecting the airport and the city's main attractions. The project was included in the social facilities of Sochi program and approved by the city administration.

The main advantage of the project is a prime location, as well as the concept of multifunctionality, which is rare in the developing real estate market of Sochi. Hosting the Olympic Games in Sochi increased the investment attractiveness of the Project.

Employees of the “Solev” IC developed a business plan and, most importantly, structural funding scheme, which involves the use of multiple sources of funds, which is quite common for such large-scale projects.

Due to an extensive experience in project finance of similar construction projects, the specialists of “Solev” IC together with the initiator passed the credit committee of the bank and got the approval of the Czech state for the record sum of funding amounting to $ 500 million.