LSR Group announces start of pre-sales in the new residential project “Sofiya” with a total area of 307th sq m. The new project will be built on the land plot of approximately 21,9 ha in the Frunzensky district of St. Petersburg.
The project consists of twenty three 20-25-storey buildings comprising 6000 one-, two- and three-room apartments (34 - 87.5 sq m). All the apartments will be transferred to customers fitted-out. In addition, there will be commercial premises on the ground floor with a total area more than 2 000 sq m.
The price per square meter starts at RUB 74,000.
The project has high market potential due to its location in the district with well-developed social infrastructure and transportation system. There will also be parking and multifunctional zones with a sports ground and playground.
“Sofiya” will be built using energy-efficient "seamless" technology which provides higher insulation and comfort, compared to traditional prefabricated buildings.
The project is scheduled for completion in 2018.
Dmitry Khodkevitch, Managing Director of LSR. Real Estate - North-West, comments:
“Sofiya” residential complex will be on the land plot previously occupied by one of LSR Group’s subsidiaries - a brick production facility which was then relocated to the Leningrad region. This project demonstrates both effective usage of the company’s own land and creating comfortable living conditions in the former industrial zone”.
Notes to Editors:
OJSC LSR Group is a real estate development and building materials company founded in 1993 and operating in a number of complementary market segments. Its core business areas are production of building materials, real estate development and panel construction. LSR Group's main operations are located in St. Petersburg, Moscow and Yekaterinburg. As of 31 December 2012 (according to Cushman & Wakefield Russia), the net sellable area of the projects in LSR Group’s real estate portfolio is equal to 8.7m m2 with the market value of RUB 120bn. In 2012, the sales revenue of LSR Group amounted to RUB 61,122m (IFRS). LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MICEX-RTS.
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LSR Group Press Service
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