OOO GDSK started sales of the flats in the new residential unit in St.Petersburg

City House Building Company (OOO GDSK), a subsidiary of LSR Group, started construction work and sales of the flats in the new stage of the Yuzhny project. The net sellable area of the constructed residential unit is approximately 39 thousand square meters. The completion date is planned for the fourth quarter of 2011.

The project is being developed in the Krasnoselsky district of St. Petersburg, on the land plot bounded by Leninsky Prospekt and Marshala Kazakova Street. The district has well-developed social and commercial infrastructure, public transport communications and access to the Ring Road. 

OOO GDSK has already started the sale of flats in another 18-storey prefabricated panel residential unit made of components produced by one of LSR Group’s housebuilding factories, OJSC Gatchinsky DSK.

According to the project specifications, the residential unit will consist of 784 flats of 34-78 square meters fully fitted out.
The new residential unit is a part of the Yuzhny project with a net sellable area of approximately 260 thousand square meters. In 2010 it is expected to complete the first five residential units of 176 thousand square meters of net sellable area.

Note to Editors:
OOO GDSK is a subsidiary of LSR Group, founded in 2001.
The company performs development and construction of modern economy class residential complexes as developer, investor and constructor. During 2003-2009, GDSK has completed 44 residential units constituting 12 projects with a net sellable area of approximately 550 thousand square meters.

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 building materials, real estate development and panel construction.
LSR Group's main operations are located in St. Petersburg, Moscow, Yekaterinburg and Ukraine.
In 2008, the sales revenues of LSR Group were RUR 49,813m (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.

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