Zaytsevo real estate residential development

ENR is participating in real estate residential development for free standing multi-story apartment buildings at Zaytsevo in the Odintsovsky district, south-west of Moscow. The investment is regulated via an Agreement for the participation in shared construction.

After construction commenced, the allowable maximum height of buildings were amended by local authorities (from 12 to 6 floor buildings) and delays arose. Consequently, development deadlines could not be met. Due to changes in Russia legislation governing Russian residential real estate projects, there are, inter alia, more capitalization requirements for developers. These changes has resulted in further delays of the project.


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