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Two prefabricated panel residential units with a total sellable area of 48.5 thousand square meters, made of components produced by one of LSR Group’s housebuilding factories, OJSC Gatchinsky DSK, were allowed to be commissioned. New residents will receive 938 fully fitted comfortable flats. The commissioned residential units consist of one-room (43%), two-room (44%) and three-room (13%) flats. All the flats in the commissioned units are already sold out.
The Yuzhny project is located in a modern and comfortable residential neighbourhood in the southwest of St. Petersburg, with good social infrastructure.
The Yuzhny project is being developed on six land plots with a total area of residential and commercial properties of 263 thousand square meters along Leninsky Prospekt. The flats are being sold under Federal Law No. 214 on Shared investment in housing construction. Fully fitted flats in panel and brick and cast-in-situ houses under construction are available for sale. The flats can be purchased using mortgage programs of Bank VTB-24 and CJSC SPb-Region Ipoteka (an affiliate of OJSC Gazprombank).
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. Since 2003 GDSK has completed 53 projects with a net sellable area of approximately 775.6 thousand square meters. More than 6 million square meters of properties are at different stages of construction.
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.
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