ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has acquired a 2.8-hectare land plot in the Petrogradskiy district of St Petersburg for the development of a new business-class residential project.
The new project will have a total planned NSA of 77 ths sqm. This will include 48 ths sqm of residential space, as well as commercial premises, a parking garage and social infrastructure.
The newly-acquired land plot is situated on Petrovskiy Island in the heart of St Petersburg, a 10-minute walk from Krestovskiy Island and a 15-minute drive to the historic centre of the city. The territory also benefits from direct access to a long embankment and close proximity to parks, which will provide for excellent views of the Neva river and green areas. The future residential complex is surrounded by various recreation areas, including a yacht club, some of the best restaurants in St Petersburg, Petrovskiy Park and parks on Krestovskiy Island, as well as stadiums and sports facilities.
As most of the permit documentation has already been obtained, the Company aims to fast track construction and launch of sales.
This is the fourth project acquired by Etalon Group in 2017 under its new strategy aimed at obtaining high-quality projects with a focus on those that will be ready to launch within 6-18 months. Recently the Company also bought a project in the Nevskiy district of St Petersburg, as well as business class projects on Letnikovskaya Street in Moscow and on Aptekarskiy Prospect in St Petersburg, both of which are centrally-located in attractive neighbourhoods.
This and other recent announcements are available on the Etalon Group website: www.etalongroup.com/investors/news/
Etalon Group IR Team
T: +44 20 8123 1328
T: +44 7554 993 032
T: +7 499 918 3134
About Etalon Group
Founded in 1987 by Viacheslav Zarenkov, Etalon Group has become one of Russia's largest development and construction corporations. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas, where it operates through Etalon Invest and Etalon LenSpetsSMU subsidiaries. With a 30-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry - since its inception, Etalon Group has commissioned 5.6 million sqm.
Etalon Group's strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for on-going projects while maintaining a secure liquidity position: net debt as of 31 December 2016 was RUB 7.8 billion.
The Company is vertically integrated, which helps it to control costs, quality and timing, as well as to demonstrate best-in-class profitability. Etalon Group employs 5 thousand people, and its nationwide sales and marketing network covers 52 Russian cities.
As of 31 December 2016, Etalon Group's portfolio comprised 35 projects, with a total of 2.82 million sqm of unsold net sellable area. JLL valued this portfolio at RUB 115,818 million.
For the year ended 31 December 2016, Etalon Group's new contract sales totalled 496 ths sqm, or RUB 47,443 million. Deliveries in 2016 amounted to 420 ths sqm.
The Company recorded revenue of RUB 49.0 billion and EBITDA of RUB 7.3 billion for the year ended 31 December 2016.
Etalon Group’s GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.