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Seven Buildings of the Paradniy Kvartal are Put into Operation

11 November 2009

OJSC Construction Corporation Renaissance of St. Petersburg (a subsidiary of LSR Group) was allowed to put 2 blocks of the Paradniy Kvartal into operation. The complex is bounded by Kirochnaya Street, Paradnaya Street, Vilensky Pereulok and Radischeva Street. Consequently, in a view of the first 5 buildings put into operation in 2008, the project of the unique luxurious neighborhood in the centre of St. Petersburg is by half implemented, which is in full conformity with the announced schedule. 

Today 4 detached office mansions of Class A+ and 3 residential blocks for 376 apartments of the Paradniy Kvartal have been put into operation. Their total construction area is 111.3 th sq.m.

Characteristics of 2 residential blocks put into operation in November 2009:
Total construction area – 69.7 th sq.m
Net sellable area – 38.4 th sq.m
Including:
• Residential housing (267 apartments) – 34.9 th sq.m
• Built-in offices – 3.5 th sq.m
In addition:
Parking – 24.7 th sq.m

Paradniy Kvartal is the first experience of such an immense development in the centre of St. Petersburg (lot area is 9.6 hectares). The complex is located in close vicinity to the Tauride Garden, bounded by famous streets of St. Petersburg. During the last past years a so-called Golden Mile was formed in this part of the city. A new posh neighborhood will add to the status of the district. A similar project, Smolniy Kvartal, also developed by OJSC Construction Corporation Renaissance of St. Petersburg is now being designed. Due to the absence of free large-scale lots in the historic centre of the city, these two complexes will become exclusive examples of neighborhood development in the central districts of St. Petersburg.

The Paradniy Kvartal exteriors are made in neoclassical style. Explicit lines, traditional severe look and paved pedestrian ways perfectly correspond to the best St. Petersburg architecture patterns. The buildings look respectable and completely match surrounding architectural scenery. Exclusive apartments and penthouses with a total area of up to 320 sq.m, which have access to open terraces, lie on the upper floors. The terraces and apartments overlook magnificent panoramic view of St. Petersburg.

The complex will also include such spectacular sights as its own boutique street and a pedestrian area like in the most fashionable neighborhoods of European capitals.  In addition, there will be restaurants, cafes, beauty salons and a fitness centre with a swimming pool.

Paradniy Kvartal has its own underground parking as well, the largest underground parking in St. Petersburg, with more than 1700 parking lots, that means at least 2 cars for each apartment. You can take the lift to your floor right from the parking. Office buildings have their own parking lots on the ground floors.

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 73 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.

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
www.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

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