LenSpetsSMU Group (member of Etalon Group) is one of Russia’s largest and oldest homebuilders which have been operating since 1987.

The Group was initially formed in 1987 by the Soviet Ministry of Electronics as a Special Construction and Maintenance Directorate of “Soyuselectronstroy”. In 1991, the Directorate separated from the association and was reorganized into PCE “LenSpetsSMU” which became CJSC LenSpetsSMU (Closed Joint Stock Company Specialized Construction and Assembly Association “LenSpetsSMU”) in 1995.

Since 1996, LenSpetsSMU begins expanding its operations through strategic acquisitions and establishing new subsidiaries:

  • 1996 OJSC “SMU “Electronstroy” (ready-mix concrete, reinforced concrete structures and aerated concrete)
  • 1997 CJSC «LenSpetsSMU-Reconstruktsiya» (general contractor, structural works)
  • 2001 CJSC «ZSM «Etalon» (brick manufactureR)
  • 2001 CJSC «Management company «Etalon» (common management)
  • 2002 CJSC «CDR» (sales, marketing, advertisement)
  • 2003 CJSC «AKTIV» (asset management)
  • 2004 CJSC «EtalonProekt» (design works)
  • 2005 CJSC «EtalonPromstroy» (industrial construction)
  • 2006 CJSC «Etalon-Invest» (project manager in Moscow Metropolitan Area)
  • 2008 CJSC «ZATONSKOE» (owner of the “Emerald Hills” project)
  • 2009 LLC «Severnaya Vysota and Co» (owner of tower cranes)
  • 2010 LLC «DAYKAR» (owner of “Etalon-City” project)
  • 2014 LLC «ZhK Moskovskij» (owner of “Moscow gates” project)

A vertically-integrated developer, LenSpetsSMU Group is equipped to manage the full cycle of the development and construction process from obtaining the permissions and design works to construction, sales, and ongoing maintenance.

Since 2001, LenSpetsSMU Group has been actively developing its new business line of industrial and civil construction: -

  • 2001 Foundation construction for a cooling tower and pile foundation for the main building of North-West Heat and Power Station (St. Petersburg)
  • 2001-2003 Construction of a sheet-pile enclosure for navigation canals, buildings’ foundations, and utility systems in cottages for VIPs in Konstantinovskiy Palace (St. Petersburg)
  • 2003-2006 Turn-key design and build project of Sokos Hotel Palace Bridge 5* (St. Petersburg)
  • 2005-2007 Turn-key build project of Pulkovskaya Customs House (St. Petersburg)
  • 2006 Piles foundation and installation of pile caps for Toyota Motors Company car assembly plant (St. Petersburg)
  • 2007 Construction of a workshop with various utility systems and laying of special-purpose rail tracks for Admiralty Shipyards (St. Petersburg)
  • 2007 Piles foundation and construction of access roads for General Motors Auto plant (St. Petersburg)
  • 2007-2009 Turn-key design and build project of Radio-Electronic Equipment Production Plant (Kaliningrad region, Gusev town)
  • 2007-2009 Turn-key design and build project of Stock Exchange (St. Petersburg)
  • 2007-2009 Turn-key design and build project of “Smolenka River” Business Center (St. Petersburg)
  • 2007-2009 Turn-key design and build project of Trade and Exhibition Center «AURA» (St. Petersburg)
  • 2007-2010 IN-PROJECT Design and construction works to expand plant production facilities for Ford Motors Company (St. Petersburg)
  • 2008-2009 Turn-key design and build project of Volkovskaya substation (St. Petersburg)
  • 2008-2009 Construction of utility systems, mechanical services, test track and finished product storage areas for Nissan Manufacturing Rus car assembly plant (St. Petersburg)
  • 2009 Foundation and other different construction works for Fitness and Sports Center (Kaliningrad region, Gusev town)
  • 2009-2010 Turn-key design and build project of Steel Services Center for Severstal and a Spanish company GONVARRI (Kaluga)
  • 2009-2010 Civil and structural works in the construction of the Unified Food Network for Russian Railways (St. Petersburg)
  • 2011-2013 Construction of the first stage of the convention and exhibition center in St. Petersburg, which includes a convention center, three interconnected pavilions, two hotels, two business centers and extensive adjoining infrastructure and facilities with a total area of over 200 000 sq m.

Following changes in legislation and shift of the Russian construction industry to self-regulation, LenSpetsSMU became one of the founders of the first self-regulatory organisation (SRO) in North-West Russia – “Association of Builders of St. Petersburg”.

Etalon Group successfully completed an IPO on the London Stock Exchange’s main market in April 2011, raising $575 million and becoming the first real estate company from Russia to go public since 2007.


Business model: Vertically-integrated homebuilder.

Market specialization: Mass housing.

Technology: Brick-monolith building.

Key competence: Integral realization of complex and large-scale residential development projects.

Price segments: Lower middle and upper economy class.

Geography: St. Petersburg Metropolitan Area.