South West | Real estate

Peresvet to invest $6.8m in cottage complex in Volgograd

27 Apr '10
Developer Peresvet intends to invest about $6.8m building a residential cottage complex in Volgograd, news agency RIA Novosti reports.

The complex is reportedly to be built on an 8.83-hectare land site in the citys Soviet district.

Under the project, the complex is to have 250 wooden houses with total residential area of 18,000 square meters, including two-bedroom 63-square-meter and three-bedroom 81-square-meter houses.

The project is to be carried out in two stages, the firm said.

Under the first stage, by late November 2010, the company is to build over 9,000 square meters of housing. The project is scheduled to be fully completed in Q4 2011.
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