Start of sales in the 6th and 7th buildings of the Paradny Quarter

OJSC Construction Corporation Renaissance of St. Petersburg (a subsidiary of LSR Group) launched 2 residential blocks of the second stage of the Paradny Quarter (6th and 7th residential buildings). The first elite residential neighbourhood in the city centre is by half completed; the majority of apartments of the first stage are sold out. Market launch of 248 new apartments will provide for an extended choice for the customers.

The 6th and 7th residential buildings consist of 7-9 storeys with a net sellable area of 35.1 thousand square meters. These are planned to be completed in December 2012, the Paradny Quarter completion date is December 2014.

Paradny Quarter is a unique mixed-use project that includes elite residential and commercial properties of De Luxe class in the historical centre of St. Petersburg. The complex is located in close vicinity to the Tauride Garden, bounded by Kirochnaya Street, Paradnaya Street, Vilensky Pereulok and Radischeva Street. The project comprises residential buildings, office centres, retail stores, new streets and a square.

Paradny Quarter consists of 16 buildings, including eight A+ separate commercial properties. Eight buildings of the first stage are already put into operation, including three residential and five A+ commercial properties. One more commercial building is to be completed by the end of 2010, which means completion of the first stage. 

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.

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.

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

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