REG - Etalon Group PLC - Etalon Begins Construction of New Project in Omsk

EtalonAnnouncement

15/12/2021 07:30

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RNS Number : 7179V  Etalon Group PLC  15 December 2021

15 December 2021

 

Etalon Group Begins Construction of a Residential Complex in Omsk

 

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 the first three buildings as part of
the first stage of its new residential complex in the city of Omsk.

 

The residential complex, called Green River, will be built on a 164-hectare
site on the left bank of the Irtysh River, in the Kirovskiy district of the
city of Omsk. The project was developed in line with the "City within a City"
concept. The first phase will include 14 residential buildings of varying
heights with an expected NSA of about 150 ths sqm, a preschool, integrated
commercial space and parking lots. The project concept provides for a large
selection of apartments of different sizes and layouts: from classic to
European-style. The upper floors of the Green River complex will be reserved
for high-comfort apartments with terraces. Particular attention will be paid
to upgrading the grounds of the property: a wide promenade passing through
varying terrain will join the estate's open public spaces, such as playgrounds
and sports facilities, a skate park, recreation areas and landscaped squares.

Sales are scheduled to begin in 1Q 2022. The Company expects to complete the
project by the end of 2030.

Commenting on the plans to carry out a new project in Omsk, Etalon Group CEO
Gennadiy Shcherbina said:

"We are delighted that, shortly after signing a cooperation agreement with the
Omsk regional government, we are able to announce the start of our first
large-scale project in the region. The Green River residential complex, our
flagship regional project, is comparable in scale to our Galactica and Zil-Yug
projects. We are very pleased with the work of the regional team and are
confident that this project will serve as a starting point for Etalon Group's
successful regional expansion. The launch of our first regional project is an
important step towards the implementation of Etalon Group's strategy to expand
into other regions of the country. In addition to Omsk, we plan to actively
develop projects in Novosibirsk and to expand into other cities throughout the
year, thereby supporting business growth and creating a modern, high-quality
living environment in our new regions of operations."

Yury Borodin, Etalon Group's Head of Regional Operations, added:

"Thanks to the efficient work of our design bureau, we were able to launch our
first project quickly. In just two months after obtaining the rights to the
land plot we secured the necessary permits and in the first quarter of next
year we will launch sales at the new residential complex. Our know-how and
many years of experience in the implementation of integrated development
projects will enable us to create a completely new type of space in Omsk,
which will become another centre of attraction for the city."

This and other recent announcements are available on the Etalon Group website:

https://www.etalongroup.com/investor-relations/investor-news/
(https://www.etalongroup.com/investor-relations/investor-news/) .

 

Contact Information

 

Etalon Group

IR Team

T: +44 (0) 20 8123 1328

E: ir@etalongroup.com

 

EM

Sam VanDerlip

T.: +44 207 002 7859

E: vanderlip@em-comms.com (mailto:vanderlip@em-comms.com)

 

About Etalon Group

Founded in 1987, Etalon Group is one of the largest development and
construction companies in Russia. The Company focuses on middle class
residential real estate in the Moscow and St Petersburg metropolitan areas.
With a more than 30-year history, Etalon Group has one of the longest and most
successful track records in the Russian real estate industry. Since its
foundation, Etalon Group has delivered more than 7.5 million sqm of real
estate.

Thanks to its integrated business model, Etalon Group is able to create added
value for customers and shareholders at every stage of development, from land
plot analysis and acquisition to the operation and maintenance of existing
properties. Etalon Group employs over 4,600 people, and its nationwide sales
and marketing network covers 59 Russian cities.

Etalon Group's total assets comprise 20 projects under development, unsold
inventory at completed residential complexes and commercial properties, with
total unsold NSA of 2.8 million sqm, as well as a construction and maintenance
division. Colliers International valued the Company's total assets at RUB 204
billion as of 31 December 2020.

In 2020, Etalon Group's new contract sales totalled 538 ths sqm, or RUB 79.9
billion. Deliveries in 2020 amounted to 540 ths sqm.

The Company's revenue in 2020 amounted to RUB 78.7 billion, with EBITDA of RUB
12.6 billion.

Etalon Group's GDRs have traded on the Main Market of the London Stock
Exchange since 20 April 2011 and on the Level 1 quotation list of Moscow
Exchange since 31 January 2020 under the ticker ETLN.

 

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