Currently the major part of our operations is concentrated in our home market of Saint-Petersburg, the second largest city in Russia with the population of 4.6 million people, and the surrounding Leningrad region with the population of 1.6 million people. We have the leading market positions with most of our key products in this region.
We believe that the St. Petersburg and Leningrad region market will continue to provide strong growth opportunities for both our Building Materials and Real Estate businesses. We will continue to increase and protect our leading market shares in Building Materials and Real Estate and increase the efficiency of our business by modernizing our production facilities and improving operational processes. We plan to significantly grow our mass market real estate business vertically integrated with in-house panel production and construction capacity.

Moscow is the capital of Russia with the population of 10.4 million people. Moscow's building materials and real estate market is the largest in Russia and one of the keys for our geographical expansion. We have been operating in the Moscow real estate market since 2001. We successfully completed one real estate project and currently have several projects under development in Moscow. We have also established our presence in Moscow with our building materials and tower cranes services business units. We are constantly increasing the volume of our operations in Moscow.

Yekaterinburg has a population of 1.3 million and is the forth largest market in Russia in terms of annual construction volume after Moscow (and the Moscow region), St.Petersburg and Kazan. Yekaterinburg is surrounded by several other large cities including large industrial centre Chelyabinsk and oil industry centre Tuymen.
We entered the market of Yekaterinburg in 2007.
Today business activities in Yekaterinburg include production of building materials (reinforced concrete, ready-mix concrete, aerated concrete and crushed granite), real estate development and panel construction.
In Yekaterinburg and Urals region we are creating the business model combining the production of building materials and real estate development and construction which replicates our core business in St Petersburg.

Ukraine is our neighbor country with the growing economy with population of 46.5 million.
We aim to become the leading Building Materials manufacturer in Ukraine with the limited product range. Currently we are focused on the development of the aerated concrete business in Ukraine.
Today we operate two aerated concrete factories in Ukraine. We are the largest manufacturer of the aerated concrete in the country. We do not plan to develop Real Estate business in Ukraine in the foreseeable future.

We operate the two aerated concrete manufacturing facilities located in Estonia and Latvia.