Etalon Group Begins Sales at New Project in Kazan
Source: RNS
3 October 2022
Etalon Group Begins Sales at New Project in Kazan
ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces the start of sales at a new residential complex in Kazan. The project's NSA is expected to be 45 ths sqm.
The first phase of the new residential complex, called Schastye v Kazani, includes two buildings of different heights - 19 and 20 floors - with built-in commercial and office space as well as a two-level enclosed parking garage. According to the project plans, the NSA of the first phase will be 20 ths sqm, including 19 ths sqm of residential and commercial real estate. The available layouts are notable for their diversity and functionality: the project offers classic layouts alongside open-plan apartments with a combined kitchen and living room and apartments with walk-in closets, master bedrooms as well as saunas. The first phase will also include so-called transformer apartments.
The landscaping concept for the grounds surrounding the project was developed in collaboration with landscape designers and environmental experts. The Company plans to build operational terraces and publicly accessible recreation areas atop the project's stylobate; the adjacent grounds will feature recreation and sports facilities, playgrounds as well as an extensive walking area.
The residential complex is located in a developed green area with extensive social and commercial infrastructure: within walking distance are schools, shops and cafes, several shopping centres and sports facilities, including the Ak Bars Arena - one of the largest stadiums in Russia. The complex is located in close proximity to the picturesque Savinovo recreation park, on the banks of the Kazanka River. The project offers convenient transport access onto Prospekt Yamasheva, one of the most important thoroughfares in Kazan.
The Company expects to complete construction of the Schastye v Kazani project by the end of 2026.
The project is part of the YIT Russia portfolio acquired by Etalon Group in an M&A deal completed in 2022. In total, the deal included 19 projects at the design and construction stages in Moscow and the Moscow region, St Petersburg, the Sverdlovsk region, Kazan and Tyumen, as well as exclusive rights to Dispatcher 24 software for managing apartment buildings, project design documentation and a library of standard design solutions for cast-in-place construction and buildings made of prefabricated panels, as well as service companies and a 50% stake in a joint venture with Brusnika, whose assets under management total 2.2 mln sqm.
With its acquisition of the YIT Russia portfolio, Etalon Group expanded its operations to eight regions, including St Petersburg, Moscow, the Moscow region, Omsk, Ekaterinburg, the Novosibirsk region, Tyumen and Kazan. The Schastye v Kazani residential complex is the Company's third regional project brought to market since the beginning of 2022, following the launch of sales at the Green River project in Omsk and at the Lyceum Quarter residential complex in the Solnechniy district of Ekaterinburg.
This and other 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
EM
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 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 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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