25 Nov 2019 07:30
25 November 2019
Etalon Group Launches Sales at Nagatino i-Land
ETALON GROUP PLC (the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it has launched sales at its Nagatino i-Land business class residential complex, which is the second-largest project to become part of the Etalon Group portfolio as part of the acquisition of Leader-Invest.
The project is located on a 14-hectare plot of land and will involve construction of a multi-functional complex with a total NSA of 350 ths sqm. The new residential, commercial and office buildings will be joined together by an existing business cluster. Residential buildings of varying heights with closed courtyards will make up residential blocks that contain recreational areas and man-made ponds, unique community areas for play, socialising and sports, as well as its own landscaped park. Nagatino i-Land will feature a wide range of apartments, from ones with individual entrances and patios to penthouses with high ceilings up to 3.9 metres and views of the Moscow River embankment.
The Nagatino i-Land complex is located on the Moscow river embankment in a district with established infrastructure. It is next to business centres that are part of a modern office cluster, as well as large shopping malls. The project has excellent transport accessibility, with the Technopark metro station and the ZIL station of the Moscow Central Circle both within walking distance. Prospekt Andropova and the Third Ring Road are also within easy reach of the estate. Plans for a new bridge across the Moscow River and the renovation of the Simonovskaya Embankment will provide a new road connecting Nagatino i-Land with central Moscow that will shorten the route to the Garden and Boulevard Rings. Future residents will also enjoy the complex's close proximity to the Island of Dreams park, which is Russia's largest entertainment complex.
Etalon Group plans to complete project in 2026.
Etalon Group Head of Moscow operations, Maxim Berlovich, said:
"Etalon Group worked with the British architectural bureau AHR to develop a unique living environment. The new multi-function complex has significant potential, as it harmoniously combines all of the elements of a comfortable urban environment: high-quality modern housing, office and commercial real estate, social infrastructure, as well as green areas and community spaces that will bring people together.
"The offices of tech companies, banks and financial corporations already located in Nagatino will support good demand for the project's residential and commercial real estate and will contribute to the project's success.
"The launch of Nagatino i-Land marks the start of a new stage in Etalon Group's development following the successful integration of Leader-Invest, and it will enable us to significantly improve our position in our core Moscow market."
This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/
Etalon Group IR Team
T: +44 20 8123 1328
E: info@etalongroup.com
EM
Sam VanDerlip
T: +44 207 002 7859
E: vanderlip@em-comms.com
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. 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 foundation, Etalon Group has commissioned 6.3 million sqm of real estate.
Etalon Group's traditionally conservative approach to managing its financial position, solid cash generation and strict working capital management support a secure liquidity position: net cash as of 31 December 2018 was RUB 2.2 billion.
The Company is vertically integrated, which helps it to control costs, quality and timing, as well as maintain best-in-class profitability. Etalon Group employs over 5,000 people, and its nationwide sales and marketing network covers 58 Russian cities.
In 2019, Etalon Group acquired and consolidated 100% in Leader-Invest, one of Moscow's largest residential developers by size of land bank and number of projects currently available for sale.
Etalon Group's total assets, including the aforementioned consolidation and 100% ownership of ZIL-Yug project, comprise 53 projects under development, completed residential and commercial properties, as well as a construction and maintenance division, with total unsold NSA of 4.0 million sqm. Knight Frank valued the Company's total assets at RUB 206,071 million as of 31 December 2018.
For the year ended 31 December 2018, Etalon Group's new contract sales totalled 628 ths sqm, or RUB 68,731 million. Deliveries in 2018 amounted to 479 ths sqm.
The Company recorded revenue of RUB 72.3 billion and EBITDA of RUB 5.7 billion for the year ended 31 December 2018.
Etalon Group's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.