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This land plot was used before by one of the subsidiaries of LSR Group (OJSC PO Barrikada) as reinforced concrete production site. Few years ago these facilities were moved to another location. The land value in this project is estimated at RUB 1.56 billion.
The new complex will be very well located in terms of both transport and social infrastructure: metro and railway stations, the Ring Road and Koltushskoye highway are nearby; different retail centres and cafes will be available for its future residents.
The construction is planned to begin in 2013.
Redevelopment of this land plot is part of LSR Group’s programme aimed to maximize value of the company’s land assets: land plots in St. Petersburg suitable for real estate development are being freed and existing industrial facilities are relocated to the existing sites in the Leningrad region or in the industrial zones of the city.
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 and Urals. 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.
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