Etalon commences sales in project in Yekaterinburg
Source: RNS
4 July 2022
Etalon commences sales in new project in Yekaterinburg
ETALON GROUP PLC ("Etalon Group" or the "Company"), one of the largest and most well-established real estate developers on the Russian market, announces the commencement of a new phase of sales of the new "Lyceum Quarter" residential complex in the Solnechny neighbourhood of Yekaterinburg. The project is expected to have more than 1.5 million square metres of NSA.
The new residential development is being built in the southern part of Yekaterinburg, in the vibrant Solnechny neighbourhood - a modern residential area with all essential infrastructure including kindergartens and schools, shops, cafes, beauty salons, recreation areas, playgrounds and sports facilities. There will be unique amenities on the territory of the project such as the Governor's Lyceum, Innovative Kindergarten, and the Centre for Artistic and Rhythmic Gymnastics - the largest in the Urals and the third-largest and best equipped in Russia. The neighbourhood's main pedestrian thoroughfare will be a broad tree-lined avenue linking green spaces and parks. The project stands out in terms of its well-conceived architectural and design solutions, with units available in a variety of layouts: flats with terraces and separate entrances, balconies, cool or warm loggias, panoramic windows, corner windows and French floor-to-ceiling windows.
In terms of transport links, the new neighbourhood is well served by convenient access roads to the Yekaterinburg Ring Road (YKAD) and public transport lines that run nearby.
The Company expects the project to be completed by the end of 2034.
The project is part of Etalon Group's strategic programme to expand the Company's business, including by entering new regions. Since the beginning of 2021, the Company's portfolio has increased to include projects in four Russian regions outside Moscow and St. Petersburg. The first of the regional projects, the "Green River" residential development in Omsk, was launched in April 2022. The "Lyceum Quarter" residential development in Yekaterinburg is the second regional project to hit the market this year.
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
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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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