REG - Etalon Group PLC - Etalon Receives Permit for Novosibirsk Region

EtalonAnnouncement

08/02/2023 07:30

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RNS Number : 2847P  Etalon Group PLC  08 February 2023

8 February 2023

 

Etalon Group Receives Permit to Build First Project in Novosibirsk Region

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 building of the first
phase of its new residential complex, in the Novosibirsk region. The NSA of
the varied-height residential building - from 9 to 16 stories - will be 24.5
ths sqm.

The new complex will be built in the Novosibirsk metropolitan area, just 25 km
from Novosibirsk. The project will have an estimated NSA of 280 ths sqm. The
first phase of construction will include eight buildings varying in height
from 7 to 16 storeys.

The Koltsovo district, where the residential complex is to be built, has all
the necessary infrastructure and is one of the leading research and
manufacturing sites in the region. The town is home to a dozen or more
research establishments and innovative companies engaged in the development
and production of biotechnology. The project site borders on other residential
areas and a forest. Akademgorodok and the Akadempark business incubator are a
25-minute drive away.

The project is scheduled for completion in 4Q 2029.

Etalon Group acquired the project site in October 2021. Novosibirsk thus
became the Company's second new regional market, following Omsk. As of early
2023, the Company's geographic footprint includes eight regions: St
Petersburg, Moscow, the Moscow region, Omsk, Novosibirsk, Ekaterinburg, Tyumen
and Kazan.

Commenting on the fact that the Company had received a construction permit for
the project's first building, Etalon Group CEO Gennadiy Shcherbina said:

"The project is being launched in our eighth region, which puts us in a
leading position among nationwide developers. Our entry into Novosibirsk
completes the first stage of our regional expansion. We are now planning to
actively develop regional projects from our current portfolio and, in
parallel, to consider acquiring new sites in other high-potential regions. We
believe that the further expansion of our regional presence will create
excellent opportunities to grow our business. At the same time, the
introduction of standardisation and digital technologies enables us to make
our product more affordable for regional buyers while maintaining high
margins."

This and other announcements are available on the Etalon Group website:
https://www.etalongroup.com/investor-relations/investor-news/
(https://www.etalongroup.com/ru/investoram/novosti/)

Contact details

 

Etalon Group

IR Team

T: +44 (0) 20 8123 1328

E: ir@etalongroup.com (mailto:ir@etalongroup.com)

 

EM

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

 

About Etalon Group

Founded in 1987, Etalon Group is one of Russia's largest development and
construction companies. The Company focuses on middle class residential real
estate in the Moscow and St Petersburg metropolitan areas. In 2021, the
Company began a regional expansion programme and has already launched new
projects in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With
a 35-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 8.6 mln 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 assets comprise 27 projects at the design and construction
stages, unsold inventory at completed residential complexes and commercial
properties, with total unsold NSA of 6.0 mln sqm, as well as a construction
and maintenance division. Colliers International valued the Company's total
assets at RUB 270 billion as of 31 December 2021.

In 2022, Etalon Group's new contract sales totalled 292 ths sqm, or RUB 58.7
billion.

 

The Company's revenue in 2021 amounted to RUB 87.1 billion, with EBITDA of RUB
17.9 billion.

 

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

 

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