Etalon Group Launches its Largest Project Galactica in St. Petersburg

04.10.2016

Etalon Group Limited (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has received a construction permit for the first two residential buildings of its Galactica project in St. Petersburg. Etalon Group also expects to receive construction permits for several other residential buildings in the project in the near future.

All projects currently under construction remain on track: in 2016 Etalon Group plans to deliver 422 ths sqm of NSA.

Galactica is Etalon Group’s largest project in St. Petersburg. It will be built on a 38-hectare land plot, and will have a total net sellable area of 838 ths sqm. The project is situated by Moskovsky Prospect and Naberezhnaya Obvodnogo Kanala, just south of central St. Petersburg, which makes it a prestigious location for both living and doing business. The nearest metro stations, Frunzenskaya and Moskovskiye Vorota, can be reached from the development by foot in just 10-15 minutes.

According to the results of Etalon Group’s landbank valuation conducted by JLL, as of 31 December 2015, the potential income from sales was estimated at over RUB 70 billion.

Etalon Group intends to launch sales for Galactica in the next month and to complete the first two residential buildings in 2018.

CONTACT DETAILS:

Savchuk Ksenija Valer'evna

Head of Public Relations

+7 (812) 348-21-25, e-mail: Kseniya.Savchuk@etalongroup.com

Yana Yashchenko

Deputy CFO

+7 (812) 349-38-40, e-mail: Yana.Yashchenko@etalongroup.com