LONDON, UK: Etalon Group Plc, one of Russia’s largest and longest-established development and construction companies, announces the acquisition of a land plot in the Petrogradskiy district of St Petersburg for the construction of a premium-class residential complex. The project’s planned NSA will be 63 ths sqm.
The site is located near the Pesochnaya embankment and within walking distance of the Vyazemskiy and Lopukhinskiy gardens. The project is in close proximity to St Petersburg’s most prestigious districts, Krestovskiy and Kamenniy islands, as well as a variety of recreational areas, commercial and sports facilities. The future residential complex will have convenient exits onto Kamennoostrovskiy Prospekt, one of St Petersburg’s main thoroughfares. It will be possible to reach the Western High-Speed Diameter motorway and the Spit of Vasilievskiy Island in about 10 minutes by car.
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Etalon Group plans to launch sales for the project in 2023 and to complete the construction of the residential complex by 2026.
Earlier this year, the Company purchased a land plot in the Pushkinskiy district of St Petersburg. Year-to-date, the Company has acquired new projects with a total area of 209 ths sqm. As part of the implementation of its business development strategy, Etalon Group plans to add several more projects to its portfolio in St Petersburg and the Moscow region before the end of 2021. Funds from the Company’s secondary placement of securities carried out in May of this year will provide one of the sources of financing for the new acquisitions.