ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has has obtained rights to develop a new project in Moscow’s North-Eastern Administrative Division. The future residential property is expected to provide 11 ths sqm of net sellable area (“NSA”), including 10 ths sqm of residential and commercial space.
The construction site is located close to the centre of Moscow, near the Maryina Roshcha metro station. The area features extensive infrastructure: a large number of shops are within walking distance from the site, as well as the Raikin Plaza shopping centre, medical facilities, schools and several secondary, vocational and higher education institutions. In their free time, future residents we be able to take walks in Festival Park and visit nearby cafes, fitness centres, a curling club and an equestrian club. The historical Catherine Park, the Olympic sports complex, the Russian Army Theatre, the Central Museum of the Armed Forces and a number of other attractions are all located within a radius of 2 kilometres. The site offers excellent transport accessibility thanks to exits onto three major thoroughfares: the Third Ring Road, Prospekt Mira and Butyrskaya Street, which becomes Dmitrovskoye Shosse.
Etalon Group plans to start construction on the residential complex in 2023 and complete the project in 2024.
The acquisition of this new project in Moscow 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, one site in Moscow and expanded into four Russian regions. In doing so, the Company added 3.6 mln sqm to its project portfolio and 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 delivered more than 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.