LSR Group starts pre-sales in large residential project in Moscow region
23 November 2011
LSR Group (LSE: LSRG; MICEX, RTS: LSRG), one of the leading real estate developers and building materials producers in Russia, started pre-sales in the new residential project located in Domodedovo, the Moscow region.
The price per square meter starts at RUB 49.9 thousand. One studio apartment costs from RUB 1.8 million. Housing in the New Domodedovo project is affordably priced. There is also a possibility to pay for apartment in installments over construction period or obtain a mortgage.
The investment contract to develop the neighbourhood for 15 thousand residents was signed in February 2011. The total area of apartments is 335 thousand square meters. The project will comprise of twenty-six Euro’Pa series 7-17 storey houses to be built using energy-efficient seamless technology.
There will be also three kindergartens, two public schools, health and shopping centres, post and bank offices, multi-level parkings in the area. Moreover, the new neighbourhood’s favourable location provides good public transport and vehicle access.
The first two houses of the project are scheduled for completion in December 2012, the 1st phase is planned to be completed in 2013.
Andrey Kirnos, Managing director of CJSC Mosstroyrekonstruktsiya (a subsidiary of LSR Group in Moscow), comments:
“New Domodedovo neighbourhood, the largest project of LSR Group in the Moscow region, offers affordable housing built using advanced European technologies and provided with all necessary infrastructure. The project was in demand even before the start of pre-sales which demonstrates its popularity among customers and high potential in the Moscow market”.
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. Nowadays LSR Group is one of the largest real estate development and building materials producing companies in Russia. 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. As of 31 December 2010 (according to DTZ Russia), the net sellable area of the projects in LSR Group’s real estate portfolio is equal to 8.4m m2 with the market value of RUB 104bn.
In 2010, the sales revenues of LSR Group were RUB 49,950m (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.