5 Mar 2018 07:30
5 March 2018
Etalon to Launch up to 700 ths sqm of NSA in 2018
ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it plans to launch up to 700 ths sqm of net sellable area ("NSA") at its residential development projects in 2018.
The new launches planned for 2018 will enable Etalon Group to substantially enlarge and diversify its sales portfolio across its target segments. In the business-class segment, the Company plans to launch new, centrally-located projects, such as residential complexes on Petrovskiy Island in St Petersburg and on Letnikovskaya Street in Moscow, as well as new stages of Silver Fountain, which is already under development in Moscow.
Etalon Group will also offer clients a wide choice of comfort-class apartments in new buildings at projects already under construction, including Galactica and Emerald Hills. At new residential complexes on Prospekt Obukhovskoy Oborony and Prospect Marshala Blyukhera, Etalon Group will offer its clients a wide range of apartments with improved floorplan solutions, a new approach to organising public spaces, as well as modern utilities and well-developed social infrastructure all within walking distance.
Etalon Group President Viacheslav Zarenkov said: "Declining mortgage rates and government programmes to stimulate the purchase of residential real estate have made housing more accessible, which brings new opportunities for Etalon Group to increase its market shares in Moscow and St Petersburg. With a constant focus on refining our product and widening our assortment, we seek to ensure that our apartments are in demand among a wide array of potential buyers, which gives us confidence in our ability to deliver on the goals that have been set before the Company."
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 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 2016 was RUB 7.8 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 2016, Etalon Group's portfolio comprised 35 projects, with a total of 2.82 million sqm of unsold net sellable area. JLL valued this portfolio at RUB 115,818 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.
Etalon Group's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011