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 20.7 hectare land plot in the Pushkinsky district of St Petersburg. This acquisition is aligned with the Company’s previously announced strategy to expand its project portfolio.
The site that Etalon Group has acquired is located in an area with developed social, recreational and transport infrastructure. There are shops, pre-schools, schools, universities, medical and sports facilities all within walking distance. Future residents of the project will enjoy numerous local attractions, including the Alexandrovsky and Ekaterininsky parks, public gardens and architectural monuments. Transport accessibility is provided by two railway stations, public transport routes and convenient road links: the Western High-Speed Perimeter and the Ring Road are 10-15 minutes’ drive away, while Pulkovo Airport is just 20 minutes by car and the Expoform congress and exhibition centre can be reached in 10 minutes.
The project involves construction of a low-rise comfort class residential complex with commercial and social infrastructure facilities, as well as parking for 360 cars. The expected net sellable area (NSA) of the project will be 145 ths sqm, including 97 ths sqm of residential space. Etalon Group expects to obtain permits, start construction and launch sales at the project within a year. Completion of construction is scheduled for 2025.
As part of its development strategy, the Company plans to acquire several more projects in St Petersburg and the Moscow metropolitan area by the end of 2021. Earlier this year, Etalon Group raised more than USD 150 million through a secondary placement of securities. The proceeds from the placement are being used as one of the sources of funding for the Company's new acquisitions, including this project.
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. With a more than 30-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 7.5 million sqm of real estate.
With our integrated business model, we are able to create added value for clients and shareholders at every stage of development: from land plot analysis and acquisition to the delivery of completed properties and provision of post-development housing services. Etalon Group employs over 4,600 people, and its nationwide sales and marketing network covers 59 Russian cities.
In 2019, Etalon Group acquired and consolidated 100% in Leader-Invest, one of Moscow’s largest residential developers by size of land bank and number of projects currently available for sale.
Etalon Group’s total assets comprise 20 projects under development, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 2.8 million sqm, as well as construction and maintenance division. Colliers International valued the Company’s total assets at RUB 204 billion as of 31 December 2020.
In 2020, Etalon Group’s new contract sales totalled 538 ths sqm, or RUB 79.9 billion. Deliveries in 2020 amounted to 540 ths sqm.
The Company’s revenue in 2020 amounted to RUB 78.7 billion, with EBITDA of RUB 12.6 billion.
Etalon Group’s GDRs have traded on the Main Market of the London Stock Exchange since 20 April 2011 and on the Level 1 quotation list of Moscow Exchange since 31 January 2020 under the ticker ETLN.