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LSR Group completes the Grunwald residential complex in Moscow

24 August 2010

CJSC Mosstroyrekonstruktsiya (a subsidiary of LSR Group) has commissioned Grunwald residential complex, located on the Skolkovskoye Shosse in western suburbs of Moscow. The company has started to give out flat keys to the customers.

New residential complex consists of 13 detached six-storey buildings with up to 20 flats in each one, providing a limited number of neighbors for comfort living conditions. The complex will include commercial properties and an underground parking as well as a large fitness center with a sports pool.

Apartments sale started in 2005. For past 5 years the price per square meter has increased 2.5 times. Today a square meter in the Grunwald costs from RUB 149,000 to 266,000. The majority of flats (85%) in Grunwald have already been sold on the construction stage.

The project was designed by famous architect bureaus: NPS Tchoban Voss, Project-Meganom, Ostorzhenka and Assman Salomon. Each house of the Grunwald residential complex has its own distinguishing features but together they form a unique architectural solution.

The Grunwald residential complex, surrounded by a park, is situated in an environment-friendly part of the Moscow region, a short way from the western boundaries of Moscow. The complex has a good link with  Moscow’s centre via Skolkovskoye Shosse. The neighbourhood has a well-developed infrastructure – elite gymnasiums, schools and kindergartens together with tennis courts and golf courses are located just a short distance away.  A close vicinity of the future Silicon Valley in Skolkovo will add to the project’s attractiveness.

Note 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, Yekaterinburg and Ukraine.
In 2009, the sales revenues of LSR Group were RUR 51,024 million (IFRS).
LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MICEX and RTS.

CJSC  Mosstroyrekonstruktsiya is an investment and construction company founded in 2001. In 2007, the company completed its first project, the Dom na Davydkovskoy business class residential complex. In 2008, the company has strengthened its presence in Moscow’s real estate market through the acquisition of property complex at Leningradskoye Shosse. In 2009 Mosstroyrekonstruktsiya became a subcontractor to construct a residential neighbourhood for the military personnel in Balashikha for the use by the RF Ministry of Defence. In 2010 the company launched its first mass-market development projects in Balashikha and Nakhabino, and signed an investment contract to construct a multi-use premium class residential complex in the south-west part of Moscow. Mosstroyrekonstruktsiya also completed construction of the unique project – the Grunwald residential complex. Currently the company is designing a new multi-purpose business complex New Balchug at Sadovnicheskaya Street, 500 m from the Kremlin.

For more details please contact:
LSR Group Press Service
Tel.: +7 812 314 10 44
Fax: +7 812 458 83 72
E-mail: press@lsrgroup.ru
www.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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