ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has received a construction permit for the first three buildings as part of the first stage of its new residential complex in the city of Omsk.
The residential complex, called Green River, will be built on a 164-hectare site on the left bank of the Irtysh River, in the Kirovskiy district of the city of Omsk. The project was developed in line with the “City within a City” concept. The first phase will include 14 residential buildings of varying heights with an expected NSA of about 150 ths sqm, a preschool, integrated commercial space and parking lots. The project concept provides for a large selection of apartments of different sizes and layouts: from classic to European-style. The upper floors of the Green River complex will be reserved for high-comfort apartments with terraces. Particular attention will be paid to upgrading the grounds of the property: a wide promenade passing through varying terrain will join the estate’s open public spaces, such as playgrounds and sports facilities, a skate park, recreation areas and landscaped squares.
Sales are scheduled to begin in 1Q 2022. The Company expects to complete the project by the end of 2030.
Commenting on the plans to carry out a new project in Omsk, Etalon Group CEO Gennadiy Shcherbina said:
“We are delighted that, shortly after signing a cooperation agreement with the Omsk regional government, we are able to announce the start of our first large-scale project in the region. The Green River residential complex, our flagship regional project, is comparable in scale to our Galactica and Zil-Yug projects. We are very pleased with the work of the regional team and are confident that this project will serve as a starting point for Etalon Group’s successful regional expansion. The launch of our first regional project is an important step towards the implementation of Etalon Group’s strategy to expand into other regions of the country. In addition to Omsk, we plan to actively develop projects in Novosibirsk and to expand into other cities throughout the year, thereby supporting business growth and creating a modern, high-quality living environment in our new regions of operations.”
Yury Borodin, Etalon Group’s Head of Regional Operations, added:
“Thanks to the efficient work of our design bureau, we were able to launch our first project quickly. In just two months after obtaining the rights to the land plot we secured the necessary permits and in the first quarter of next year we will launch sales at the new residential complex. Our know-how and many years of experience in the implementation of integrated development projects will enable us to create a completely new type of space in Omsk, which will become another centre of attraction for the city.”
This and other announcements are available on the Etalon Group website:
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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 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.