ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest development and construction companies, announces the acquisition of a site for residential development in the Pushkinskiy district of St Petersburg. The estimated NSA of the future property is 38 ths sqm, including 32 ths sqm of residential real estate.
The construction site is located in an established area with extensive infrastructure, including schools and preschools, healthcare facilities, shops and cafes. Shopping centres, green areas – Pulkovskiy Park, Dubovaya Roshcha Park and the Raisa Shtreys Public Garden – are all within 3 km of the site. The property offers convenient exits onto the Ring Road, and Pulkovo Airport is 30 minutes away by car.
Etalon Group plans to launch sales in the new residential complex in 2022 and to complete the project by the end of 2025.
The acquisition of the new project in St Petersburg is in line with Etalon Group’s development strategy approved at the end of 2020 as well as its land bank replenishment programme. Since the launch of the programme in 2021, the Company has acquired four sites in St Petersburg and expanded into four Russian regions. In doing so, the Company has added 3.6 mln sqm to its project portfolio. As it continues to implement its development strategy, Etalon Group plans to acquire several more sites in St Petersburg, Moscow and other regions by the end of 2022.
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. In 2021, the Company began a regional expansion programme and has already launched new projects in Omsk, the Novosibirsk region, Ekaterinburg and Tyumen. With a 35-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 7.9 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 2021, Etalon Group’s new contract sales totalled 446 ths sqm, or RUB 84.4 billion. 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.