November 1, 2013. Sinara-Development, a divisional holding of Sinara Group, won the right to sign rental contracts for a land allotment in Tenistaya St in Shirokaya Rechka District in the course of an auction.

The 3.9-hectare land allotment is meant for putting up apartment buildings. The lot came at the price of 54.1m RUR. The development of this allotment will allow for the construction of some 100,000 sq m worth of housing. The area development project that is to be approved of by Yekaterinburg Council will be drawn up in the first quarter of 2014. Sinara-Development expects to start the construction process in 2014.

Sinara-Development's Director-General Timur Ufimtsev stressed that this part of Yekaterinburg is one of the most promising territories for the city's development.

'Following the auction, the land allotment that Sinara-Development has bought will be used to put up good quality, affordable economy class housing. The infrastructure will be designed in accordance with the modern urban development requirements. The project will provide for comfortable children's playgrounds and sports playgrounds as well as parking lots,' Ufimtsev said.