Kvartira.Ru has resumed the construction of the Platinum upmarket residential complex at the Sverdlovskaya embankment in St. Petersburg. The 72,000 m2 (total area) project has been frozen for more than twelve months due to the lack of financial resources. During that period some flat purchasers who had agreed with Kvartira. Ru on buying property in Platinum when it was first offered on the market in 2008 terminated their contracts. The city council permitted the company to extend the deadline for the completion of the project by one year – to 2012.
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