REG - Etalon Group PLC - Etalon Group Launches Sales at Botanica Project <Origin Href="QuoteRef">ETLNGq.L</Origin>

EtalonAnnouncement

04/10/2017 07:30

RNS Number : 6529S
Etalon Group PLC
04 October 2017
4 October 2017
Etalon Group Launches Sales at Botanica 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 launched sales at Botanica, its project on Aptekarskiy Prospekt in St Petersburg, less than two months after acquiring the project.
Botanica's name takes its inspiration from the St Petersburg Botanical Gardens located just 200 metres from the complex, and the project will be constructed to meet modern environmental standards. Botanica will consist of two buildings that are eight and nine storeys high. The total planned net sellable area ("NSA") of the complex is 47 ths sqm, including 28 ths sqm of residential space for 356 apartments, as well as commercial premises and a garage for 363 cars.
As a business class project, Botanica will offer a wide range of apartments with unique floorplans. The building's external facade fits in harmoniously with St Petersburg's architectural traditions while integrating modern features and design elements. The contemporary landscaping for Botanica's multi-zone internal courtyard will provide residents with space for walking as well as for leisure activities.
The prestigious, centrally-located neighbourhood surrounding Botanica contains several cutting-edge medical centres, as well as long-established educational institutions. The project is also near the Aptekarskaya Embankment of the Neva river, where residents will enjoy walking along the river on wide, tree-lined sidewalks.
Botanica in St Petersburg, together with Silver Fountain in Moscow, marks an important milestone in the strategic development of Etalon Group as it expands its portfolio to include up-market business class projects with distinctive architectural designs that offer unique apartment layouts for customers.
Etalon Group plans to complete the project in December 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 5.5 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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