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Nevskiy One Project was Declared a Winner by Competent Investors

02 November 2009

Nevskiy One, a joint investment project of Construction Corporation Renaissance of St. Petersburg (a subsidiary of LSR Group) and A Plus Estate Company (a subsidiary of LSR Group) became the best among other projects participating in the 5th Annual International Russia CIS Hotel Investment Conference (RHIC).

International Russia CIS Hotel Investment Conference (RHIC) was held in Corintia Hotel St. Petersburg. “Driving profits in challenging times” was its main topic this year. The conference hosted investors, agents, specialists and experts of hotel business on the forum.

Nevskiy One is one of the outstanding buildings on the Nevskiy Prospekt. The building facades overlook the Admiralty and Palace Square. The Alexander Gardens and the ensembles of the Winter Palace and the General Staff building are in the immediate vicinity of the Nevskiy One. The house is a monument of St. Peterburg’s architecture of the 18th-19th centuries. The project provides for careful renovation of Nevskiy One house with its facades and interiors to be meticulously restored to preserve their historic look. The investment project Nevskiy One has large potential: it can be developed as either elite residential apartments or as a SPA-boutique hotel or as a luxury 5 star hotel.

During the Investment Den of RHIC potential investors could discuss and evaluate 4 exclusive projects. While making their assessment the investors should have taken into consideration a certain criteria. As a result of the jury voting, Nevskiy One Project was declared a winner.

Presented projects:
1. Nevskiy One Project Development in St. Petersburg (3 variants of usage). The project was presented by Yuri Ilyin, CEO of A Plus Estate Company. Project developer is OJSC Construction Corporation Renaissance of St. Petersburg.
2. A mixed-use complex with Nikolskiye Ryady Hotel Development in St. Petersburg. The project was presented by Oleg Shaposhnikov, General Director of CJSC Nikolskiye Ryady.
3.  A Luxury New Hotel Development in Central St. Petersburg, near the Ostrovskiy Square. The project was presented by Tomas Dukala, Vice President of Morgan Stanley.
4. A luxury hotel plus office development facing the Dnieper River in Kiev. The project was presented by Rudolf Schmid, Managing Partner of EREC Environmental and Real Estate Consulting GmbH.

Georg S. Folian, Chief Financial Officer, Warimpex Finanz u Beteiligungs AG
David Geovanis, Managing Director, London & Regional Properties Russia
Dmitry Tetiouchev, Partner & Head of Hospitality Russia & CIS, Ernst & Young (CIS)

Investment Den was hosted by Michael Cooper, Vice President Strategic Development Russia & CIS of InterContinental Hotels Group.

Note to Editors:
OJSC Construction Corporation Renaissance of St. Petersburg (a subsidiary of LSR Group)   is a leader of the elite property development market in St. Petersburg. The corporation was founded in 1994 and is today one of the largest construction companies in Russia. The track record of the company includes 40 projects successfully implemented in the most prestigious, challenging and important locations of the historic centre of St. Petersburg — a total of 71 residential buildings. The company prides itself on the restored buildings that are of historic value for the city being architectural monuments of the 18th and 19th centuries. Currently work is underway to construct several objects of de Luxe Class. The company is also developing a number of multi-use commercial and residential projects in the central districts of St. Petersburg.

A Plus Estate (a subsidiary of LSR Group) operates on commercial real estate market since 2007.
Company’s activities include:
? asset management of commercial properties owned by LSR Group;
? preparation of commercial properties investment projects;
? land development for commercial real estate purposes, including preliminary concept design, permitting, zoning and etc. 
Today A Plus Estate together with other companies of LSR Group is working on realization of unique prime office projects in St. Petersburg and Moscow.
OJSC LSR Group  is a real estate and building materials company founded in 1993 and operating in a number of complementary market segments. Its core business areas are building materials, construction and real estate. The Group includes enterprises for extraction and processing of aggregates, production and transportation of building materials, and housing construction — from mass market large-panel housing to elite property built after designs made by leading domestic and foreign architects.
LSR Group has operations and offices in a number of cities in the Leningrad region, in St. Petersburg, Moscow, Yekaterinburg, Lithuania, Latvia, Estonia, Ukraine and Germany.
In 2007, the sales revenues of LSR Group (according to the IFRS-based financial statements) were RUR 35,858 million, in 2008 – RUR 49,813 million.
LSR Group is a public company, with its GDRs listed and traded on the London Stock Exchange and its shares listed and traded on MICEX and RTS.
In 2007, LSR Group was awarded ‘The Company of the Year’ National Award in the ‘Construction’ category.

For more details please contact:
LSR Group Press Service
Tel.: +7 812 314 10 44
E-mail: press@lsrgroup.ru

OJSC Construction Corporation Renaissance of St. Petersburg
Anna Panina, PR Specialist
Tel./fax: +7 (812) 320-5578
E-mail:  panina@skv.lsrgroup.ru

«LSR Group» discloses information on the page on the Internet of LLC Interfax-TsRKI — the news agency accredited by the Central Bank of the Russian Federation to disclosure of information.
Information is available here.

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