18 Sep 2018 07:30
18 September 2018
Etalon Group Launches Petrovskiy Island Project
ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it has launched sales for its premium-class residential project on Petrovskiy Island in St Petersburg.
The project, called Petrovskiy Landmark, will consist of two seven-storey and one nine-storey residential buildings executed in the Dutch style with clinker facades and hand-crafted bricks, as well as an underground parking garage with 395 spaces and commercial premises. The expected net sellable area of the project is 73 ths sqm, including 47 ths sqm of residential area. This development will offer a wide variety of flats with layouts that meet the needs of the most demanding buyers. Large windows and floor-to-ceiling glazing, expansive terraces and winter gardens will allow residents to enjoy the unique views that characterise Petrovskiy Landmark, looking out over the Neva River, Gulf of Finland and South Harbour, as well as new St Petersburg landmarks including the Lakhta Centre, St Petersburg Stadium and Vantoviy Bridge crossing the mouths of the Malaya Neva and Malaya Nevka. Sophisticated entrance areas with décor inspired by the interiors of premium-class yachts further highlight the uniqueness of the buildings and their location, while the central water-purification and air-conditioning systems, "smart home" system and enhanced sound-proofing offer additional comforts for residents.
Petrovskiy Island is one of the most prestigious districts in St Petersburg due to its easy proximity to the centre of the city, combined with the exclusiveness afforded by its island setting and quiet surroundings. Petrovskiy Landmark benefits from direct access to an extensive riverside including its own private embankment. Various recreation areas - including a yacht club, upscale restaurants, Petrovskiy Park and parks on Krestovskiy Island - are all located nearby. The recently opened Betancourt Bridge allows for quick access to Vasilyevskiy Island and the Western High-Speed Diameter highway (WHSD). The historic centre of St Petersburg can be reached by car in just five minutes, and the city airport in 20 minutes using the WHSD.
The Petrovskiy Landmark project was acquired in the end of 2017, in line with Etalon Group's strategic priority of obtaining high-quality projects that will be ready to launch within 6-18 months. This premium-class project has been launched following the successful start of sales for three business-class projects: Fusion, Botanica and Silver Fountain.
Etalon Group plans to complete the project in 2021.
This and other recent announcements are available on the Etalon Group website: http://www.etalongroup.com/investors/news/
Etalon Group IR Team
T: +44 20 8123 1328
E: info@etalongroup.com
EM
Sam VanDerlip
T: +44 7554 993 032
T: +7 499 918 3134
E: vanderlip@em-comms.com
About Etalon Group
Founded in 1987 by Viacheslav Zarenkov, Etalon Group has become one of Russia's largest development and construction corporations. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas, where it operates through Etalon Invest and Etalon LenSpetsSMU subsidiaries. With a more than 30-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry - since its inception, Etalon Group has commissioned 5.8 million sqm.
Etalon Group's strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for on-going projects while maintaining a secure liquidity position: net debt as of 31 December 2017 was RUB 9.7 billion.
The Company is vertically integrated, which helps it to control costs, quality and timing, as well as to demonstrate best-in-class profitability. Etalon Group employs 5 thousand people, and its nationwide sales and marketing network covers 52 Russian cities.
As of 31 December 2017, Etalon Group's assets comprised 38 projects, with a total of 2.82 million sqm of unsold net sellable area, and a construction and maintenance division. Knight Frank valued the Company's assets at RUB 135,197 million.
For the year ended 31 December 2017, Etalon Group's new contract sales totalled 512 ths sqm, or RUB 50,240 million. Deliveries in 2017 amounted to 423 ths sqm.
The Company recorded revenue of RUB 70.6 billion and EBITDA of RUB 13.2 billion for the year ended 31 December 2017.
Etalon Group's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.