ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces the acquisition of a land plot in the Petrogradskiy district of St Petersburg for the construction of a premium-class residential complex. The project’s planned NSA will be 63 ths sqm.
The site is located near the Pesochnaya embankment and within walking distance of the Vyazemskiy and Lopukhinskiy gardens. The project is in close proximity to St Petersburg’s most prestigious districts, Krestovskiy and Kamenniy islands, as well as a variety of recreational areas, commercial and sports facilities. The future residential complex will have convenient exits onto Kamennoostrovskiy Prospekt, one of St Petersburg’s main thoroughfares. It will be possible to reach the Western High-Speed Diameter motorway and the Spit of Vasilievskiy Island in about 10 minutes by car.
Etalon Group plans to launch sales for the project in 2023 and to complete the construction of the residential complex by 2026.
Earlier this year, the Company purchased a land plot in the Pushkinskiy district of St Petersburg. Year-to-date, the Company has acquired new projects with a total area of 209 ths sqm. As part of the implementation of its business development strategy, Etalon Group plans to add several more projects to its portfolio in St Petersburg and the Moscow region before the end of 2021. Funds from the Company’s secondary placement of securities carried out in May of this year will provide one of the sources of financing for the new acquisitions.
This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/.
Etalon Group IR Team
T: +44 20 8123 1328
T: +44 207 002 7859
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.
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 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 a 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.