LSR Group to build business-class residential complex in Moscow
23 December 2011
CJSC Mosstroyrekonstruktsiya (a subsidiary of LSR Group, one of the leading real estate developers and building materials producers in Russia) is starting business-class residential project in the Danilovsky district of Moscow in partnership with Coalco Development.
The new complex will be located in one of the central and prestigious Moscow districts with good infrastructure.
The project will comprise of multi-storey business-class houses with the total residential area of 105 th sq m and a kindergarten. The houses’ layout makes it possible to build apartments of enhanced comfort – two-level apartments and penthouses (up to 250 sq m). Moreover, the complex will include small reasonably priced studios and one-bedroom apartments (from 44 sq m).
The infrastructure will fully correspond to the business-class housing: underground parking for 1,860 cars, comfortable inner courts with a sports ground and playground. Non-residential area of 8.8 th sq m will include retail, bank branches and restaurants, etc.
The construction is scheduled to begin in 1Q2013. Phase 1 (around 55 th sq m) is planned to be completed in July 2016.
According to Moscow town-planning and land commission, this land plot is now zoned for residential construction. The industrial facility located here earlier was relocated to the Vladimir region.
Ivan Romanov, Managing Director of LSR Group (Moscow), comments:
“Our project fully meets current needs of Moscow as it involves relocation of a large industrial facility from the city centre and construction of housing with social facilities and amenities instead. We intend to position the project as business class – reasonably priced and with full range of options required by the Moscow residents”.
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 OJSC MICEX-RTS.