Podillia concern to use UAH 3.5 m to credit purchase of its housing

Podillia concern (Vinnytsia) will direct UAH 3.5 million of its own funds to issue credits to the public from June 1 for the purchase of housing constructed by the concern, according to a statement on the company's Web site, referring to its director general, Tymofiy Hyrenko.

Credits will be issued in the hryvnia at a rate of 12% per annum for 30% of an apartment's cost, while the remaining 70% is to be paid by the buyer.

Earlier Podillia planned in May 2010 to start the construction of four residential buildings with 600 apartments in microdistrict eight in Vinnytsia.

It is planned to construct a total of 16 residential buildings and a school in the microdistrict. Themicrodistrict istobecompletedin 2013-2014.

Podillia concern planned in 2010 to invest UAH 180-200 million in the realization of residential projects in Vinnytsia. The concern plans to commission about 35,000-40,000 square meters of housing, depending on demand.

Podillia concern includes 15 construction organizations and companies in Vinnytsia region.