Etalon Receives Permit for Novosibirsk Region
Source: RNS
8 February 2023
Etalon Group Receives Permit to Build First Project in Novosibirsk Region
ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it has received a construction permit for the first building of the first phase of its new residential complex, in the Novosibirsk region. The NSA of the varied-height residential building - from 9 to 16 stories - will be 24.5 ths sqm.
The new complex will be built in the Novosibirsk metropolitan area, just 25 km from Novosibirsk. The project will have an estimated NSA of 280 ths sqm. The first phase of construction will include eight buildings varying in height from 7 to 16 storeys.
The Koltsovo district, where the residential complex is to be built, has all the necessary infrastructure and is one of the leading research and manufacturing sites in the region. The town is home to a dozen or more research establishments and innovative companies engaged in the development and production of biotechnology. The project site borders on other residential areas and a forest. Akademgorodok and the Akadempark business incubator are a 25-minute drive away.
The project is scheduled for completion in 4Q 2029.
Etalon Group acquired the project site in October 2021. Novosibirsk thus became the Company's second new regional market, following Omsk. As of early 2023, the Company's geographic footprint includes eight regions: St Petersburg, Moscow, the Moscow region, Omsk, Novosibirsk, Ekaterinburg, Tyumen and Kazan.
Commenting on the fact that the Company had received a construction permit for the project's first building, Etalon Group CEO Gennadiy Shcherbina said:
"The project is being launched in our eighth region, which puts us in a leading position among nationwide developers. Our entry into Novosibirsk completes the first stage of our regional expansion. We are now planning to actively develop regional projects from our current portfolio and, in parallel, to consider acquiring new sites in other high-potential regions. We believe that the further expansion of our regional presence will create excellent opportunities to grow our business. At the same time, the introduction of standardisation and digital technologies enables us to make our product more affordable for regional buyers while maintaining high margins."
This and other announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/
Contact details
Etalon Group
IR Team
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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 delivered 8.6 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 2022, Etalon Group's new contract sales totalled 292 ths sqm, or RUB 58.7 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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