PJSC LSR Group (LSRG)
PJSC LSR Group: LSR Group launches sale of apartments in a new
business-class residential estate in St. Petersburg
07-Jun-2019 / 11:15 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
LSR Group launches sale of apartments in a new business-class residential
estate in St. Petersburg
St. Petersburg, Russia - 7 June 2019 - PJSC LSR Group ("LSR" or the
"Company") (LSE: LSRG; MOEX: LSRG), one of the leading real estate
developers and building materials producers in Russia, announces the launch
of one of its largest residential developments, 'Morskaya Naberezhnaya' in
Neva Bay on Vasilievsky Island, St. Petersburg.
Located in a 34-hectare land plot, the residential complex has a total area
of 886 th. sqm, with a living space of just over 503 th. sqm. The complex
will be completed by 2030 in four stages, comprising of 47 apartment
buildings with between 11 and 22 floors, most of which will be overlooking
the Gulf of Finland. The first stage is expected to be completed by 2023.
The 'Morskaya Naberezhnaya' development will consist of 9,250 apartments,
ranging from one- to five-bedroom options, varying from 26 to 123 sqm in
living space. Apartments will be presented in classical or European styles
and can be purchased in either shell and core or fully-fitted formats. There
will be no studios in buildings.
Sales are already underway in land plot ?13 (the first stage of
development). The first property being sold is the Building ?8, a high-rise
residential development consisting of 15 floors and a total area of just
over 18 th. sqm, containing 11.6 th. sqm of living space and 308 apartment
units. Prices start at RUB 99,000 per sqm. The fully-fitted apartments are
expected to reach completion during the fourth quarter of 2022.
The architectural design of 'Morskaya Naberezhnaya' was developed by Studio
44 bureau. The entire development will include underground parking for more
than 5,400 cars, as well as open-air guest parking. LSR Group will also
build 4 pre-schools and 3 schools. More than 25 th. sqm of area will be
available for commercial lease and will consist of retail stores as well as
leisure and entertainment facilities. Along with the construction of the
residential complex itself, the Company will gradually develop an adjacent
riverbank area of around 11 hectares on a 2km long, 100m wide embankment.
For more information please contact:
Investor Relations Media Relations
LSR Group Press Service
E-mail: press@lsrgroup.ru
Igor Tsoy
Director of Investor Relations
E-mail: IR@lsrgroup.ru
About LSR Group:
PJSC LSR Group is one of Russia's leading residential real estate developers
and building materials producers. Founded in 1993, the business of LSR Group
is concentrated in the three largest regions of Russia - Moscow, St.
Petersburg and Yekaterinburg. The main business areas of the Company are
real estate development and construction and production of building
materials. LSR Group carries out projects in all segments of residential
real estate market: mass market, business and elite.
In accordance with its audited IFRS consolidated financial statements for
2018, LSR Group had revenue of RUB146.4 billion, Adjusted EBITDA of RUB36.4
billion and Net Profit of RUB16.2 billion. As of 31 December 2018 (according
to Knight Frank), the net sellable area of projects in LSR Group's real
estate portfolio amounted to 7.8 million m2 with a market value of RUB186
billion.
Ordinary shares of the Company are traded on the Moscow Exchange (MOEX:
LSRG) and GDRs representing its ordinary shares are traded on the London
Stock Exchange (LSE: LSRG).
www.lsrgroup.ru [1]
ISIN: US50218G2066
Category Code: MSCL
TIDM: LSRG
LEI Code: 25340067LEEMJ79K8X43
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 9500
EQS News ID: 821421
End of Announcement EQS News Service
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(END) Dow Jones Newswires
June 07, 2019 05:15 ET (09:15 GMT)
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