October 1, 2013. President of Sinara Group Dmitri Pumpyanski and Governor of Volgograd Region Sergey Bozhenov signed a cooperation agreement on the multi-faceted development of some territories in the region; the land allotments will be used for housing construction. The agreement was signed at the 12th International Investment Forum in Sochi. Sinara Development, a member of Sinara Group, is going to act as the developer for the project, the company’s press service reports.

The document, which was signed by both parties involved in this public-private partnership, confirms Sinara Group’s intention to act as a long-term investor and developer in Volgograd Region. The company’s project portfolio in this area will thus comprise over 350,000 sq m of housing and commercial estate. Among the most important and promising projects are housing development to the south of Krasnoslobodsk (the future Bukatin Lug District) and Novy Svet District in Volgograd (the first section of this district was successfully commissioned in July 2013).

‘The project layout and the model of Bukatin Lug was the primary feature of Volgograd Region’s exhibition stand at the forum. The land allotment is located on the left bank of the River Volga, opposite Volgograd. The distance between the place and downtown Volgograd is about 15km,’ the press release says.