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 a new project in the Nevsky district of St Petersburg.
The comfort class project, called Etalon on the Neva, will consist of two residential buildings with 838 apartments, two parking facilities (one outdoors and one underground) with a total of 501 spaces, and a pre-school. The total net sellable area (“NSA”) of the project is 76 ths sqm, including 56 ths sqm of residential area. Space on the ground floor will be occupied by commercial premises and a medical centre. With windows overlooking the Neva River, future residents will have a view of the water. The buildings will also feature beautiful entrance areas and spacious terraces. The project also calls for the creation of a comfortable living environment by designing green areas on the territory surrounding the buildings.
The site is conveniently located in a district with well-developed residential and transport infrastructure. Several stores and fitness centres are close by, along with two parks. Elizarovskaya metro station is just a 5-minute walk away, while the historical centre can be reached in 15 minutes by car. The complex will benefit from easy access to major transport routes with the Alexandr Nevsky and Volodarsky bridges, located nearby.
This project was acquired by Etalon Group in December 2017, in line with its strategy of obtaining high-quality projects that are ready to launch within 6-18 months. Etalon Group plans to complete the project in 2021.
This and other recent announcements are available on the Etalon Group website:
Etalon Group IR Team
T: +44 20 8123 1328
T: +44 7554 993 032
T: +7 499 918 3134
About Etalon Group
Founded in 1987 by Viacheslav Zarenkov, Etalon Group has become one of Russia's largest development and construction corporations. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas, where it operates through Etalon Invest and Etalon LenSpetsSMU subsidiaries. With a 30-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry - since its inception, Etalon Group has commissioned 5.8 million sqm.
Etalon Group's strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for on-going projects while maintaining a secure liquidity position: net debt as of 31 December 2017 was RUB 9.7 billion.
The Company is vertically integrated, which helps it to control costs, quality and timing, as well as to demonstrate best-in-class profitability. Etalon Group employs 5 thousand people, and its nationwide sales and marketing network covers 52 Russian cities.
As of 31 December 2017, Etalon Group's assets comprised 38 projects, with a total of 2.82 million sqm of unsold net sellable area, and a construction and maintenance division. Knight Frank valued the Company’s assets at RUB 135,197 million.
For the year ended 31 December 2017, Etalon Group's new contract sales totalled 512 ths sqm, or RUB 50,240 million. Deliveries in 2017 amounted to 423 ths sqm.
The Company recorded revenue of RUB 70.6 billion and EBITDA of RUB 13.2 billion for the year ended 31 December 2017.
Etalon Group’s GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.
16 April 2018