MEGA SILK WAY HAS REPAID 5 BILLION TENGE OF BORROWED FUNDS AHEAD OF SCHEDULE

MEGA Silk Way has repaid 5 billion tenge of a loan received from Baiterek Development JSC ahead of schedule. The remaining 10 billion tenge will be paid in the coming months.

It should be reminded that financial assets amounting to 15 billion tenge were received for the construction of the MEGA Silk Way shopping and entertainment center at an interest rate of 18.5% for a period of 15 years from Baiterek Development JSC, which in its turn obtained these funds from the Unified Accumulative Pension Fund (UAPF) through the Development Bank of Kazakhstan.

As it has been reported earlier, a pre-opening of MEGA Silk Way will be held on March 6 at 10 am. According to international practice, an official pre-opening of a shopping and entertainment center is foreseen when some tenants are ready for launch. On March 6, 2017, 60% of tenants opened their doors in MEGA Silk Way. As it is mentioned in the information statement, by the day of the official opening, which will be held on March 23, 2017, 80% of tenants will be ready to operate.

MEGA Silk Way covers an area of 140 thousand square meters. The ratio of commercial area to the total area is 62%; the remaining 32% is taken up by educational, sports, recreational and social projects.

It is planned that about one million people will visit a new shopping and entertainment center per month and it is estimated that this number will increase to two million people per month during the EXPO-2017 International Exhibition.

Source: tengrinews. kz