CJSC Mosstroyrekonstruktsiya (a subsidiary of LSR Group) has signed an investment contract with OOO Bolshoye Domodedovo (a right holder for the land plot, a member of Coalco Development) to build a mass-market residential neighbourhood on the land plot of approximately 40 ha in Domodedovo, the Moscow region.
Under the contract CJSC Mosstroyrekonstruktsiya, as a developer, is to build a residential multi-storey complex “Yuzhny” with a total area of apartments of around 325 thousand square meters. OOO Bolshoye Domodedovo is to provide off-site utilities construction as well as connection to main transmission systems.
The total amount of investment by CJSC Mosstroyrekonstruktsiya into the project will reach RUB 10.4 billion. According to the contract, the company receives 78.5% of total sellable residential area of the project (255 thousand square meters of apartments and 8 thousand square meters of commercial properties) for subsequent sale to end customers.
Construction of Yuzhny complex is scheduled to begin in 4Q 2011. The first houses of the complex are planned for completion already in December 2012. The whole project is to be completed in 4Q 2015. Comprehensive development parameters are determined by the General Plan of Domodedovo district and Area Planning project, approved by the Ordinance of the Head of Domodedovo district administration.
Yuzhny complex will comprise twenty-six Euro’Pa series 7-17 storey houses, made of reinforced concrete products of OJSC Zavod ZhBI-6 (a subsidiary of LSR Group). The neighbourhood development also includes construction of social infrastructure: three kindergartens, two public schools and an elevated parking.
This area has good transport accessibility: it is located in the south of central district of Domodedovo, 10 km away from Domodedovo Airport. There is also a Vzlyotnaya railway station, Paveletskoye direction, just 1.9 km from the complex. From there you can easily get to the Moscow centre in 45 minutes. Moreover, the complex is situated in an environmentally-friendly area, close to Barybinsky forestry and Bortnevsky, Stepyginsky and Akylininsky urban forests. And, finally, the complex residents will have access to all social infrastructure objects of Domodedovo.
CJSC Mosstroyrekonstruktsiya specialists consider the project to have high market potential due to its location in one of the most prestigious districts of the Moscow region and also due to potentially strong demand for housing in this area coming from a large number of enterprises located there: Conditioners Producing Plant, Severnoye Domodedovo Logisticts Complex, John Deere and Pepsi-Cola Factories and others. According to the General Plan of Domodedovo district, around 15 thousand Moscow residents come to Domodedovo for work. Besides, it is planned to create around 60 thousand extra jobs by 2025 there.
Ivan Romanov, Managing Director of LSR Group Moscow Business unit, Managing Director of CJSC Mosstroyrekonstruktsiya, comments:
“As our partner has already done considerable preliminary works for the project, the construction may begin soon. It means we will be able to start pre-sales of apartments already this autumn which is reasonable and important, especially given the overall supply for housing has been reducing".
Sergey Chetverikov, Member of the Board of Directors of Coalco Development, comments:
“Domodedovo district is one of the main districts of operations for our company. Therefore, we want Yuzhny project to become an example of high-grade comprehensive land development. Such a huge and unique project can only be implemented in partnership with a strong successful company with profound knowledge and experience in real estate development, construction and building materials production - that’s why we have chosen LSR Group.”