REG - Etalon Group PLC - Etalon Gets Construction Permit for New Project <Origin Href="QuoteRef">ETLNGq.L</Origin>

EtalonAnnouncement

15/12/2017 07:30

RNS Number : 4698Z
Etalon Group PLC
15 December 2017
15 December 2017
Etalon Gets Construction Permit for New Project
ETALON GROUP PLC ("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 a new project with a total NSA of 102 ths sqm in the Kalininskiy District of St Petersburg.
The new gated complex, which will be located on a 5-hectare land plot, will consist of two 17-storey residential buildings with 77 ths sqm of residential NSA, as well as a parking garage for 382 cars.
The ground floor space of the buildings will be occupied by pharmacies, beauty salons, clinics and other non-residential premises. The outdoor areas will have decorative landscaping, and include playgrounds, sitting areas, walking paths and sports infrastructure.
The site is located on Blyukhera Street in a cosy neighbourhood of the Kalininskiy District. The new development enjoys close proximity to pre-schools and schools, medical clinics, as well as a number of stores, shopping and entertainment centres, fitness clubs and a stadium. The neighbourhood is also made attractive by the nearby picturesque park of the Forestry Academy and the Polustrovsky Garden.
This new project is within walking distance of two metro stations, Lesnaya and Ploshchad Muzhestva, and it is four kilometres from central St Petersburg. The prestigious historical Petrogradskiy and Central Districts can be accessed via the Kantemirovsky and Liteyny bridges by car in just 5-10 minutes.
Etalon Group plans to complete the project in 2019.
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 5.6 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 2016, Etalon Group's new contract sales totalled 496 ths sqm, or RUB 47,443 million. Deliveries in 2016 amounted to 420 ths sqm.
The Company recorded revenue of RUB 49.0 billion and EBITDA of RUB 7.3 billion for the year ended 31 December 2016.
Etalon Group's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.

This information is provided by RNS
The company news service from the London Stock Exchange
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