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LSR Group to build mass-market residential neighbourhood in the south of the Moscow region

01 January 1970

CJSC Mosstroyrekonstruktsiya (a subsidiary of LSR Group) has signed an investment contract with OOO Bolshoye Domodedovo (a right holder for the land plot, a member of Coalco Development) to build a mass-market residential neighbourhood on the land plot of approximately 40 ha in Domodedovo, the Moscow region.

Under the contract CJSC Mosstroyrekonstruktsiya, as a developer, is to build a residential multi-storey complex “Yuzhny” with a total area of apartments of around 325 thousand square meters. OOO Bolshoye Domodedovo is to provide off-site utilities construction as well as connection to main transmission systems.

The total amount of investment by CJSC Mosstroyrekonstruktsiya into the project will reach RUB 10.4 billion. According to the contract, the company receives 78.5% of  total sellable residential area of the project (255 thousand square meters of apartments and 8 thousand square meters of commercial properties) for subsequent sale to end customers.

Construction of Yuzhny complex is scheduled to begin in 4Q 2011. The first houses of the complex are planned for completion already in December 2012. The whole project is to be completed in 4Q 2015. Comprehensive development parameters are determined by the General Plan of Domodedovo district and Area Planning project, approved by the Ordinance of the Head of Domodedovo district administration.

Yuzhny complex will comprise twenty-six Euro’Pa series 7-17 storey houses, made of reinforced concrete products of OJSC Zavod ZhBI-6 (a subsidiary of LSR Group). The neighbourhood development also includes construction of social infrastructure: three kindergartens, two public schools and an elevated parking.

This area has good transport accessibility: it is located in the south of central district of Domodedovo, 10 km away from Domodedovo Airport. There is also a Vzlyotnaya railway station, Paveletskoye direction, just 1.9 km from the complex. From there you can easily get to the Moscow centre in 45 minutes. Moreover, the complex is situated in an environmentally-friendly area, close to Barybinsky forestry and Bortnevsky, Stepyginsky and Akylininsky urban forests. And, finally, the complex residents will have access to all social infrastructure objects of Domodedovo.

CJSC Mosstroyrekonstruktsiya  specialists consider the project to have high market potential due to its location in one of the most prestigious districts of the Moscow region and also due to potentially strong demand for housing in this area coming from a large number of enterprises located there: Conditioners Producing Plant, Severnoye Domodedovo Logisticts Complex, John Deere and Pepsi-Cola Factories and others. According to the General Plan of Domodedovo district, around 15 thousand Moscow residents come to Domodedovo for work. Besides, it is planned to create around 60 thousand extra jobs by 2025 there.

Ivan Romanov, Managing Director of LSR Group Moscow Business unit, Managing Director of CJSC Mosstroyrekonstruktsiya, comments:

“As our partner has already done considerable preliminary works for the project, the construction may begin soon. It means we will be able to start pre-sales of apartments already this autumn which is reasonable and important, especially given the overall supply for housing has been reducing".

Sergey Chetverikov, Member of the Board of Directors of Coalco Development, comments:

“Domodedovo district is one of the main districts of operations for our company. Therefore, we want Yuzhny project to become an example of high-grade comprehensive land development. Such a huge and unique project can only be implemented in partnership with a strong successful company with profound knowledge and experience in real estate development, construction and building materials production - that’s why we have chosen LSR Group.”

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 RUB 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.

CJSC  Mosstroyrekonstruktsiya is an investment and construction company founded in 2001. In 2007, the company completed its first project, the Dom na Davydkovskoy business class residential complex. In 2008, the company has strengthened its presence in Moscow’s real estate market through the acquisition of property complex at Leningradskoye Shosse. In 2009 Mosstroyrekonstruktsiya became a subcontractor to construct a residential neighbourhood for the military personnel in Balashikha for the use by the RF Ministry of Defence. In 2010 it also became a subcontractor to construct a mass market residential neighbourhood in Reutov, the Moscow region. Moreover, in 2010 the company completed construction of the project – the Grunwald residential complex, launched its first low-rise mass-market development projects in Balashikha, Nakhabino and Leninsky district of the Moscow region. At present the company is finishing design works and resettlement to start construction of the new multi-purpose business complex New Balchug at Sadovnicheskaya Street. 

Coalco Development is an international development company, one of the leaders of Russian real estate and land-development market. The company was founded in 1994 by a businessman Vasily Anisimov.
In Russia it mainly focuses on the projects in Moscow and Moscow region.
The company owns 17.5 thousand ha of land for comprehensive land development in the Moscow region (Domodedovo district). Bolshoye Domodedovo project will include 12.5 million square meters of residential areas, 2.6 million square meters of industrial and logistics projects, 1.2 million square meters in the project “Akademgorodok”.
In Moscow Coalco Development has projects for construction of 1.1 million square meters of commercial, trading and residential properties. In 2010 the company was awarded with CRE Moscow Awards as a Developer of the Year, and its project “The White Horse” became the best project in the nomination “A Class Business Centre”.
In July 2010 Coalco Development together with Rixos, a Turkish company, completed a mutual project of a retail entertainment center “Khan Shatyr” (Kazakhstan, Astana). The project was designed by Norman Foster, and was included into the list of the world’s best eco-buildings according to Forbes Style.

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

«LSR Group» discloses information on the page on the Internet of LLC Interfax-TsRKI — the news agency accredited by the Central Bank of the Russian Federation to disclosure of information.
Information is available here.

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