1 Sep 2022 07:30
1 September 2022
Etalon Group Launches Sales for New Phase of Novoorlovskiy Project
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 for a new phase of its Novoorlovskiy residential complex in St Petersburg. The NSA of this stage of the project is expected to be 20.6 ths sqm, including 13.0 ths sqm of residential and commercial real estate.
The new phase of the project includes a 25-storey residential building with built-in commercial premises and a separate parking lot. Potential buyers can choose from a large selection of apartments. Well-designed, ergonomic layouts with a spacious open-plan kitchen and living room and state-of-the-art technological solutions will ensure the comfort of residents. The project includes balconies and sunrooms for every apartment as well as apartments with walk-in closets, a master bedroom and a sauna. In addition to the residential part, the complex includes an underground level with storage rooms for seasonal items. The ground floor of the residential complex will house commercial infrastructure, and the Company plans to outfit the landscaped grounds surrounding the project with modern playground equipment for children and recreation facilities for adults.
The residential complex is located in a developed green area in the Primorskiy district of St Petersburg, in the vicinity of the Novoorlovskiy Nature Reserve and the Kamenka River. All the infrastructure and amenities that residents will need are available within walking distance: schools and preschools, healthcare facilities, shops, sports facilities, restaurants and cafes. The project offers excellent transport accessibility, with convenient access to the main thoroughfares in the northern part of St Petersburg, the Ring Road and the Western High-speed Diameter.
The Novoorlovskiy project is part of the YIT Russia portfolio acquired by Etalon Group in an M&A deal completed in 2022. In addition to the Novoorlovskiy residential complex, the deal included 18 other projects at the design and construction stages in Moscow and the Moscow region, St Petersburg, the Sverdlovsk region, Kazan and Tyumen.
The Company plans to complete the construction of the latest phase by the end of 2024.
This and other announcements are available on the Etalon Group website:
https://www.etalongroup.com/investor-relations/investor-news/
Contact Info
Etalon Group
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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.