Etalon Group Acquires New Project in Moscow
Etalon Group Limited (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has signed a contract to acquire the rights to a new residential development project in Moscow.
The expected NSA of the new project is 173 ths sqm, including 105 ths sqm of residential area, 1,500 parking places, a pre-school and a school.
The 6.6 hectare land plot is located in the Perovo region of the Eastern administrative district of Moscow. It is situated in an area with well-developed infrastructure, and is approximately 1 km from Izmaylovsky park. The project will have good transport accessibility: central Moscow can be reached in 20 minutes by car or by metro from the nearest station, Shosse Entuziastov, which is within just 10 minutes’ walk.
Etalon Group plans to begin construction and launch sales at the new project in the first half of 2018.
This new project is similar in concept and location to Golden Star, which has demonstrated excellent performance: launched in early November 2015, the project already accounted for 7% of Etalon Group’s total new contract sales for 4Q 2015. Today, after 12 months since the launch of sales, over 50% of the residential and commercial area of Golden Star are presold.