Etalon Begins New Project Sales in St PetersburgSource: RNS
17 May 2022
Etalon Group Begins Sales at New Project in St Petersburg
ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces the launch of sales at a new residential complex in St Petersburg. The project's NSA is expected to be 38 ths sqm, including 32 ths sqm of residential real estate.
The new comfort-class residential complex, called Monograph, is being built in the Pushkinskiy district, near the historical suburbs of St Petersburg and major roadways. The construction site is located in an established area with extensive amenities, including schools and preschools, healthcare facilities, shops and cafes. Large shopping centres as well as Pulkovskiy Park, Dubovaya Roshcha Park and the Raisa Shtreys Public Garden are all within 3 km of the site.
The Monograph residential complex includes 747 apartments: from studios to three-room homes. Residents will enjoy the comforts of modern living thanks to well-designed, ergonomic layouts and state-of-the-art technological solutions. The ground floor of the complex will house shops, cafes and other commercial infrastructure, and the Company plans to outfit the landscaped grounds surrounding the project with modern playground equipment for children and recreation facilities for adults.
With the Kupchino metro station and Shushary railway station nearby, as well as convenient exits onto the Ring Road, the complex offers residents excellent transport accessibility. Pulkovo airport can be reached in 15 minutes by car, and the city centre is 30 minutes away.
The Company expects to complete the project in 2Q 2025.
This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/.
+44 (0) 20 8123 1328
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.