Etalon Group announces acquisition of a project in St Petersburg

Etalon Group announces the acquisition of a site for residential development in the Pushkinskiy district of St Petersburg. The estimated NSA of the future property is 38 ths sqm, including 32 ths sqm of residential real estate.

The construction site is located in an established area with extensive infrastructure, including schools and preschools, healthcare facilities, shops and cafes. Shopping centres, green areas – Pulkovskiy Park, Dubovaya Roshcha Park and the Raisa Shtreys Public Garden – are all within 3 km of the site. The property offers convenient exits onto the Ring Road, and Pulkovo Airport is 30 minutes away by car.

Etalon Group plans to launch sales in the new residential complex in 2022 and to complete the project by the end of 2025.

The acquisition of the new project in St Petersburg is in line with Etalon Group’s development strategy approved at the end of 2020 as well as its land bank replenishment programme. Since the launch of the programme in 2021, the Company has acquired four sites in St Petersburg and expanded into four Russian regions. In doing so, the Company has added 3.6 mln sqm to its project portfolio. As it continues to implement its development strategy, Etalon Group plans to acquire several more sites in St Petersburg, Moscow and other regions by the end of 2022.