Etalon Group PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has launched sales for a new phase at Galactica, the largest-scale development project in central St Petersburg.
The new phase will comprise five 19-storey residential buildings, and two parking garages with 399 parking spaces. The expected NSA of the new phase is 61 ths sqm, including 43 ths sqm of residential area. The new residential blocks will be built on a separate plot at a convenient location in the southern part of the Galactica development.
In line with the Company’s goal of enhancing its product offering, the buildings will offer flexible and convenient floorplans and large dining areas. The average size of each apartment is comparable to that of a business class project. Apartments in the new buildings will have a number of additional advantages, including separate and spacious wardrobe areas in the bedrooms, as well as living rooms with windows on two sides. All apartments will feature high ceilings and will enjoy plenty of natural light thanks to their large windows, with floor-to-ceiling glazing used on the top two floors. In order to highlight the phase’s unique characteristics and its advantageous location, it has been given its own name: Galactica Premium.
Moskovskie Vorota metro station is just a 10 minute walk from the project. It is close to main roads Moskovsky Prospekt and the Mitrofanov highway, as well as an exit from the Western High-Speed Diameter highway (WHSD). The historical city centre can be reached by car in only 5-7 minutes, and the city airport in 15–20 minutes.
Etalon Group plans to complete the phase in 2021.
This and other recent announcements are available on the Etalon Group website: www.etalongroup.com/investors/news/
Etalon Group IR Team
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T: +44 7554 993 032
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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 2017 was RUB 9.7 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.
The Company recorded revenue of RUB 70.6 billion and EBITDA of RUB 13.2 billion for the year ended 31 December 2017.
Etalon Group’s GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.