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Alfa Bank is financing construction of shopping center “Tau Gallery” in Saratov

TDC Corporation which owns ТД shopping center Povolzhye attracted Alfa Bank as a financing partner for construction of shopping-entertainment complex “Tau Gallery” in the center of Saratov. The project will be financed by Alfa Bank and will be one of the biggest investment projects on real estate market in Saratov region in recent times.

Head of the Regional Net OAO Alfa Bank unit Evgeniy Antifeev commented, “Alfa Bank already possesses experience in successful participation in project development in various regions of our country. Financing of a significant Saratov project is a long term undertaking. We are investing for a period of 7 years and are planning to ensure all resources for every stage of construction”. Noting the features of the region, the manager of OO Saratovsky OAO Alfa Bank Dmitry Varlamov had this to say, “For us, as investors, it is important that construction of the largest project in Saratov region is led by a professional international team which includes a serious regional player – ТДС Corporation whose ТД – Povolzhye is well known to us”.

Construction of SC Tau Gallery began in 2013 and is located in the historic city center of Saratov on the crossroads of Dubovikova Street and 50 Years of October. Over a 3 month period all the preparatory land work was finished and developer began filling the foundational concrete base. Going by building plans, the construction of the monolithic complex frame will start as early as July. Opening of shopping-entertainment center is planned for beginning of 2015. Exclusive project consultant is Cushman & Wakefield.

“We finished the stages of conceptual and marketing evaluation of the project, pre-design approvals, design, and building permits. Our development team attracted a large financial partner, Alfa bank. Now, we transitioned to an active stage of construction on the land plot”, said Maxim Samsonov, CEO and managing partner of ТДС.

Saratov is an administrative center of Saratov oblast, is one of the largest cities of Middle Volga region, and a major transport and logistics hub of Volga Federal District. Population of the metropolitan area formed together with satellite city Engels and other settlements is over 1 million people. It is worth noting that ratio of shopping space per capita is one of lowest in Russia: 86 sq. m. per 1,000 people.