MOSCOW: Etalon Group, one of Russia’s largest and longest-established development and construction companies, has acquired a 26-hectare land plot in the Novosibirsk region for a residential development project.
Novosibirsk is the largest city in the Siberian Federal District and the third-largest city in Russia in terms of population. It is one of the most important industrial, transport, business, scientific and cultural centres in the country, as well as a major transport hub.
The city’s advanced processing and manufacturing facilities, machine- and instrument-making enterprises, and industrial and technology parks are major assets. Novosibirsk ranks second in a rating of Russian cities in terms of the development of public-private partnerships; it has a BB/Stable credit rating from Fitch Ratings.
The development site is located within the Novosibirsk metropolitan area, just 25 km from Novosibirsk. The area where the residential complex will be built has all the necessary infrastructure and is the leading research and manufacturing district in the region.
More than a dozen research organisations and innovative companies engaged in development and production in the field of biotechnology are located here. The new residential complex will be adjacent to other residential quarters and a woodland. Akademgorodok and the Academpark business incubator are within 25 minutes’ drive.
The estimated net sellable area of the future complex will be 280 ths sqm, including 260 ths sqm of residential space. Etalon Group expects to receive permits for the first stage of the project and to launch sales in 2H 2022. The project is planned to be completed in 4Q 2026.
The expansion of Etalon Group’s geographic footprint is in line with the Company’s development strategy that was approved in late 2020. Novosibirsk is the Company’s second new regional market, following Omsk.
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14 Oct, 8:00 pm GMT+2 ·Disclaimer
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