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 at a new project, the Schastye v Tyumeni residential complex. The project’s NSA is expected to be 38 ths sqm, including 27 ths sqm of residential and commercial real estate.
Located in Tyumen, the new residential complex consists of three buildings of 15 to 25 floors along with an above-ground multilevel parking garage. The project offers a wide range of apartments with open-plan layouts with a combined kitchen and living room as well as a master bedroom. Some of the apartments on the upper floors have terraces offering panoramic views. The grounds of the complex will feature playgrounds for children of various ages as well as small islands for recreation. The roof of the parking garage will be the site of a gym with outdoor training equipment. The project also plans to include a promenade that will run alongside a gallery of shops and offices with display windows on the ground floor.
The Schastye v Tyumeni residential complex is located in the very centre of the city, at the intersection of Profsoyuznaya Street and Olovyannikova Street. This convenient location ensures that residents will have access to developed social amenities and commercial infrastructure. Near the complex can be found schools, preschools, universities, medical centres, banks, shopping and business centres, sports facilities and many small cafes and restaurants. Within walking distance of the project there are several parks and garden squares, including the City Park of Culture and Recreation, and a well-equipped promenade along the Tura River embankment. Transport accessibility is provided by convenient access to the city’s major thoroughfares: 50 let Oktyabrya Street, Profsoyuznaya Street and Respubliki Street.
Construction of the Schastye v Tyumeni complex is expected to be completed in 4Q 2024.
The project was part of the YIT Russia portfolio acquired by Etalon Group in an M&A transaction completed in 2022, which included a total of 19 projects at the design and construction stages. Thanks to organic growth and the addition of YIT’s Russian projects to its portfolio, Etalon Group has expanded its operations to eight regions, including St Petersburg, Moscow, the Moscow region, Omsk, Ekaterinburg, the Novosibirsk region, Tyumen and Kazan.
The Schastye v Tyumeni residential complex is the Company’s fourth regional project brought to market since the beginning of 2022. Earlier, Etalon Group launched sales at the Green River project, in Omsk; at the Lyceum Quarter, in the Solnechniy district of Ekaterinburg; as well as at the Schastye v Kazani project, which the Company is building in the capital of Tatarstan.
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.