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According to the agreement, the new complex (Mitinskaya str.) will comprise of three multi-storey residential buildings with a total area of 87,448 sq.m. OJSC Zavod ZhBI-6 (a subsidiary of LSR Group) will produce reinforced concrete items for the construction of the new complex.
The construction is scheduled to begin in April, 2012. The whole project is planned for completion in 4Q 2014.
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.
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