Etalon Group PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has received a construction permit for its project in the Krasnogvardeiskiy district of St Petersburg.
The project, named Okhta House, consists of four residential buildings and a built-in preschool, with an expected net sellable area (“NSA”) of 138 ths sqm, including 80 ths sqm of residential area. The project will include outdoor and underground parking, as well as parking places in the commercial facilities. The ground floors of the apartment buildings will feature shops, beauty salons, banks, and other commercial premises. Outdoor areas will include playgrounds, sitting areas and sports infrastructure. The project was designed in accordance with Etalon Group’s new product concept and will feature a variety of convenient planning solutions that are attuned to the needs of future residents.
This project is located in the Krasnogvardeiskiy district near long-established neighbourhoods and well-developed infrastructure. A number of preschools and schools, as well as numerous stores, are located near the complex. Situated in an attractive green area near the Okhta river, Polustrovsky Park and Ilyinsky Gardens, the complex is also close to a number of public transport options, as well as major transport routes.
Etalon Group plans to complete the residential buildings in 2020, and the project in 2021.
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 5.8 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 2017, Etalon Group's assets comprised 38 projects, with a total of 2.82 million sqm of unsold net sellable area, and a construction and maintenance division. Knight Frank valued the Company’s assets at RUB 135,197 million.
For the year ended 31 December 2017, Etalon Group's new contract sales totalled 512 ths sqm, or RUB 50,240 million. Deliveries in 2017 amounted to 423 ths sqm.
Etalon Group’s GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.