ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces it has acquired a 26-hectare land plot in the Novosibirsk region for a residential development project.
Novosibirsk is the largest city in the Siberian Federal District and the third-largest city in Russia in terms of population. It is one of the most important industrial, transport, business, scientific and cultural centres in the country, as well as a major transport hub. The city’s advanced processing and manufacturing facilities, machine- and instrument-making enterprises, and industrial and technology parks are major assets. Novosibirsk ranks second in a rating of Russian cities in terms of the development of public–private partnerships; it has a BB/Stable credit rating from Fitch Ratings.
The development site is located within the Novosibirsk metropolitan area, just 25 km from Novosibirsk. The area where the residential complex will be built has all the necessary infrastructure and is the leading research and manufacturing district in the region. More than a dozen research organisations and innovative companies engaged in development and production in the field of biotechnology are located here. The new residential complex will be adjacent to other residential quarters and a woodland. Akademgorodok and the Academpark business incubator are within 25 minutes' drive.
The estimated net sellable area of the future complex will be 280 ths sqm, including 260 ths sqm of residential space. Etalon Group expects to receive permits for the first stage of the project and to launch sales in 2H 2022. The project is planned to be completed in 4Q 2026.
The expansion of Etalon Group’s geographic footprint is in line with the Company’s development strategy that was approved in late 2020. Novosibirsk is the Company’s second new regional market, following Omsk.
This and other announcements are available on the Etalon Group website:
T: +44 (0) 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 delivered more than 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.