UNR Holdings, Inc. Subsidiary Secures Mortgage Funding For MARSHAL Apartment Buyers
NEW YORK, May 9, 2013 /PRNewswire/ -- UNR Holdings, Inc. (OTC: UNRH) today announced that its Russian operating subsidiary, 494 UNR, a residential and commercial real estate developer and construction contractor, operating principally in the city of Moscow and its suburban communities, has negotiated and reached an agreement with OJSC RosDorBank on mortgage lending for property buyers at the MARSHAL apartment complex, which was built and is being sold by 494 UNR.
RosDorBank was established in 1991 as one of the first commercial banks in the Russian Federation.
UNR CEO Alexey Kim commented, "I am delighted that we were able to enter into this agreement with RosDorBank. We expect as a result to increase our sales of MARSHAL apartments."
For the year 2012, the volume of granted mortgage loans in Russia was 1.03 trillion rubles. In 2013, according to the "state of the mortgage market index" developed by analysts at mortgage bank DeltaCredit, the mortgage market will reach 1.13 trillion rubles (US$32 billion).
About UNR Holdings, Inc.
UNR Holdings is a U.S. corporation with a 67% controlling interest in its Russian operating subsidiary, 494 UNR, a diverse development and construction company with many years of success serving the greater Moscow area. 494 UNR specializes in general and infrastructure construction services, such as designing and building multi-story apartment buildings for middle and upper middle class families, office buildings, highways and bridges. It also produces and supplies a patented road-base and slope-stabilizing infrastructure construction material.
While 494 UNR is involved in complex construction projects, it also assists the Russian government with infrastructure projects for oil and gas corporations, such as GAZPROM and TRANSNEFT. 494 UNR is one of the oldest and most established construction companies located and operating in the greater Moscow area, which now encompasses over 950 square miles. More detailed information about company projects is available at the UNR Holdings, Inc. corporate website: http://www.unrholdings.com.
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UNR Holdings, Inc.
Phone: (212) 400-7532
SOURCE UNR Holdings, Inc.