PJSC LSR Group: The Government of St. Petersburg purchases housing from LSR Group worth RUB 2.2 billion.

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PJSC LSR Group (LSRG) 
PJSC LSR Group: The Government of St. Petersburg purchases housing from LSR 
Group worth RUB 2.2 billion. 
 
13-Nov-2018 / 12:45 CET/CEST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
*The Government of St. Petersburg purchases housing from LSR Group worth RUB 
2.2 billion. * 
 
LSR Group won the electronic auctions to supply apartments for the 
government project in Saint Petersburg aiming to improve living conditions 
for those in need. The company will provide 483 apartments in Tsvetnoy Gorod 
and Novaya Okhta in Krasnogvardeysky District of Saint Petersburg, with a 
total area of approximately 30,000 m2. The value of the five contracts is 
just below RUB 2.2 billion. 
 
Terms of the auction state that St. Petersburg Property Relations Committee 
will purchase the apartments by signing the shared equity agreement for the 
construction of apartment buildings. It is required for the project to be 
located within the city boundaries and the apartments to be fully finished 
before being handed over. The completion must be set for December 2019 
latest, and the apartments must be transferred to the client no later than 
end of June 2020. 
 
Regarding the projects, Tsvetnoi Gorod and Novaya Okhta, - the construction 
is already taking place. The first buildings will be handed over by the end 
of 2018. According to the contract, the client is to receive 139 one-room 
apartments, 102 two-room apartments, 153 three-room apartments, 49 four-room 
apartments and 40 five-room apartments in the 8 buildings of Novaya Okhta 
and Tsvetnoi gorod. The residents will be chosen by the Housing Committee. 
As agreed, the apartments will be assigned to people with limited mobility, 
benefit-entitled citizens, families with multiple children and WW2 veterans. 
 
*For more information please contact:* 
LSR Group Press Service 
E-mail: [e-mail] 
www.lsrgroup.ru [1] 
 
ISIN:          US50218G2066 
Category Code: MSCL 
TIDM:          LSRG 
Sequence No.:  6503 
EQS News ID:   744985 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=58f8a3dfb2c50691da887d59982565e2&application_id=744985&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

November 13, 2018 06:46 ET (11:46 GMT)