REG - Etalon Group PLC - Permit Received for New Silver Fountain Building <Origin Href="QuoteRef">ETLNGq.L</Origin>

EtalonAnnouncement

14/12/2017 07:30

RNS Number : 2968Z
Etalon Group PLC
14 December 2017
14 December 2017
Etalon Receives Construction Permit for New Building at Silver Fountain
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 another building of its Silver Fountain project in the North Eastern Administrative District of Moscow.
The new building will contain 394 apartments and has a total NSA of 38 ths sqm, including 17 ths sqm of underground parking for 655 cars. This building, which will range from three to 20 storeys high, also has 1.4 ths sqm of commercial space that will be occupied by a variety of retail and other businesses that will cater to residents' needs. 
Silver Fountain is Etalon Group's first business-class project in Moscow. The Company worked with leading architects to create a unique gated residential complex in the historical centre of Moscow. The design of the new buildings is inspired by historical facades, while allowing for modern floorplans. The neighbourhood where Silver Fountain is located is surrounded by the green territory of Sokolniki Park and is just 15 minutes by car from the Kremlin.
Silver Fountain will consist of five residential and commercial buildings, including a business centre, as well as social infrastructure and parking for 2,100 cars. The planned net sellable area of the entire complex is 228 ths sqm.
Etalon Group plans to complete the project in 2021.
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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