Etalon Launches Sales at Green River in Omsk
Source: RNS
20 April 2022
Etalon Group Launches Sales at Its Green River Project in Omsk
ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it has launched sales for the first phase of its new residential complex in the city of Omsk. This phase of the project is expected to have an NSA of 145 ths sqm.
The Green River residential complex 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's NSA is expected to reach 1.4 mln sqm, including 1.0 mln sqm of residential and commercial real estate. The first phase will comprise 14 residential buildings of varying heights, a preschool, integrated commercial space and parking lots.
The project was developed in line with the "city within a city" concept. The residential complex offers a large selection of apartments of different sizes and with a variety of layouts: from classic to European-style. 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, recreation areas and landscaped squares.
The Company expects to complete the project by the end of 2030.
Commenting on the Company's plans to carry out a new project in Omsk, Etalon Group CEO Gennadiy Shcherbina said:
"We are delighted to announce the launch of our first large-scale project outside our core regions of Moscow and St Petersburg - the Green River residential complex in Omsk. Thanks to the professional work of our regional team, we managed to secure the necessary permits and launch sales within a short time. Our first regional project will serve as a starting point for Etalon Group's successful regional expansion. In addition to Omsk, we plan to actively develop projects in Novosibirsk, Tyumen and Ekaterinburg as well as to expand into other cities, thereby supporting business growth and creating a modern, high-quality living environment in our new regions of operations."
This and other recent announcements are available on the Etalon Group website:
https://www.etalongroup.com/investor-relations/investor-news/.
Contact Information
Etalon Group
IR Team
T: +44 (0) 20 8123 1328
E: ir@etalongroup.com
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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 as well as 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 mln 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 assets comprise 27 projects at the design and construction stages, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 6.0 mln sqm, as well as a construction and maintenance division. Colliers International valued the Company's total assets at RUB 270 billion as of 31 December 2021.
In 2021, Etalon Group's new contract sales totalled 446 ths sqm, or RUB 84.4 billion. The Company's revenue in 2021 amounted to RUB 87.1 billion, with EBITDA of RUB 17.9 billion.
Etalon Group's GDRs have traded on the Main Market of the London Stock Exchange since 20 April 2011 and in the Level 1 quotation list of Moscow Exchange since 31 January 2020 under the ticker ETLN.
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