ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces the start of sales for a new phase of the Suomen Ranta residential complex in Ekaterinburg. The NSA of the phase, which includes a residential building and commercial space, is expected to be 12.6 ths sqm.
The Suomen Ranta project was part of the YIT Russia portfolio acquired by Etalon Group in an M&A deal completed in 2022. The project consists of five separate residential buildings, three of which have already been delivered, as well as an underground parking lot that is in operation and an aboveground lot that is under construction. The complex offers a wide range of layouts, including open-plan apartments with a combined kitchen and living room, walk-in closets and utility rooms, as well as the possibility of dividing apartments into common and private areas. Space for seasonal storage is available in the underground part of the buildings. The ground floors house commercial infrastructure, including a supermarket and a marketplace pickup point.
All the buildings in the complex have the same facade and a shared concept that includes a functional layout for the ground floor with barrier-free access and a passageway into a landscaped courtyard. The grounds surrounding each building include separate areas for games and sports, general recreation and quiet relaxation as well as bicycle and pedestrian paths.
The complex is located in a developed area of Ekaterinburg, on the banks of the Iset River, within easy reach of Mayakovskiy Park, the largest park in the city. Within walking distance can be found all the necessary commercial infrastructure and social amenities as well as public transport stops and two metro stations: Botanicheskaya and Chkalovskaya. Transport accessibility is provided by a convenient exit onto one of the city’s key roadways, the Novokoltsovskiy Highway, a bypass road that enables motorists to reach the city centre, airport, train station and adjacent areas in 10–15 minutes.
The Company plans to complete construction of the residential complex by the end of 2024.
This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/
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About Etalon Group
Founded in 1987, Etalon Group is one of the largest development and construction companies in Russia. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas. In 2021, the Company began a regional expansion programme and has already launched new projects in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With a 35-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry. Since its foundation, Etalon Group has commissioned 7.9 million sqm of real estate.
Thanks to its integrated business model, Etalon Group is able to create added value for customers and shareholders at every stage of development, from land plot analysis and acquisition to the operation and maintenance of existing properties. Etalon Group employs over 4,600 people, and its nationwide sales and marketing network covers 59 Russian cities.
Etalon Group’s assets comprise 27 projects at the design and construction stages, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 6.0 mln sqm, as well as a construction and maintenance division. Colliers International valued the Company’s total assets at RUB 270 billion as of 31 December 2021.
In 2021, Etalon Group’s new contract sales totalled 446 ths sqm, or RUB 84.4 billion. The Company’s revenue in 2021 amounted to RUB 87.1 billion, with EBITDA of RUB 17.9 billion.
Etalon Group’s GDRs have traded on the Main Market of the London Stock Exchange since 20 April 2011 and in the Level 1 quotation list of Moscow Exchange since 31 January 2020 under the ticker ETLN.