Etalon Project to comply with Green GOSTR StandardSource: RNS
11 January 2023
Etalon Group Project One of the First to Undergo Pilot Assessment in Line with Green GOST R Standard
ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces that the first building of the Company's Rauta project, in Ekaterinburg, has successfully completed the preliminary stage of a pilot assessment for compliance with the GOST R 70346-2022 national green standard for apartment buildings. The standard was developed by Russia's Construction Ministry together with the Dom.rf development institute and approved in September 2022. At the testing stage, the preliminary assessment of pilot projects' compliance with the standard was carried out by Dom.rf.
The Rauta residential complex meets all the standard's key criteria: it offers class A energy efficiency and a white box finish; water- and energy-saving systems have been installed; the temperature at the property is maintained at a comfortable level; the complex is accessible and barrier-free; and the project meets the requirements for responsible construction. The project also meets a sufficient number of the standard's additional (optional) criteria for compliance purposes.
Etalon Group and Dom.rf signed an agreement on the joint implementation of a pilot project to certify the apartment building in accordance with the new green standard in June 2022. The pilot assessment phase of the project has now been completed. The launch of a system of voluntary certification in line with the green standard for apartment buildings in accordance with an approved road map is planned for 2023. Pilot projects that have completed an assessment will be the first to be certified.
Commenting on the completion of the pilot assessment of the Rauta residential complex according to the green standard, Etalon Group CEO Gennadiy Shcherbina said:
"For Etalon Group as a developer, it is noteworthy that the standard is applicable to a variety of projects, regardless of where they are located, and also that it takes into account the main features of green buildings. The GOST R standard is based on international experience, but, unlike similar international standards, it was developed in a dialogue with Russian property developers and is based on domestic construction standards. In addition, the standard includes a wide range of criteria, from accessibility to smart digital solutions. This approach simplifies the certification process for Russian developers and enables us to create a qualitatively different residential environment that, we believe, will be in demand among the current generation of homebuyers."
This and other announcements are available on the Etalon Group website:
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About Etalon Group
Founded in 1987, Etalon Group is one of Russia's largest development and construction companies. 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, Ekaterinburg, Tyumen and Kazan. 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.