LSR Group won the auction for redevelopment of industrial areas of the ZiL plant in Moscow. It is planned to build 1.57 million sq m of housing there.
LSR Group has won the auction to obtain a 100% of OOO Promoobject and received the right for redevelopment of the ZiL plant territories with a total area of 65 ha. The project will include 584 th sq m of housing, 365 th sq m of apartments, 167 th sq m of office premises, 98 th sq m of commercial areas and 342 th sq m of underground parking. LSR Group offered the best project execution conditions and was fully compliant with the requirements in terms of financial soundness, strong international credit ratings and successful implementation of large-scale development projects in the largest regions of Russia. The project is planned to be completed by December 31, 2022. Aleksandr Vakhmistrov, CEO and Chairman of the Executive Committee of LSR Group, comments: “Redevelopment of ZiL territories is a milestone event in the Moscow history and the largest construction project in the Russian capital for the last 20-30 years. Our integrated approach allows us to create a completely new standard of living in Moscow by offering modern social and public infrastructure, favorable location within only 5 km from the Kremlin and good transport accessibility – it all makes the project very attractive both for living and working. Winning the auction, LSR Group proved once again its leader positions in the Russian real estate market. This project will expand our real estate portfolio – it will amount to over 10 million sq m”. Notes 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 and Yekaterinburg. As of 31 December 2013 (according to DTZ), the net sellable area of the projects in LSR Group’s real estate portfolio is equal to 7.8m m2 with the market value of RUB 117bn. In 2013, the sales revenue of LSR Group amounted to RUB 65,316m (IFRS). LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MICEX-RTS. For more information please contact: LSR Group Press Service Tel.: +7 812 314 10 44 Fax: +7 812 458 83 72 E-mail: press@lsrgroup.ru www.lsrgroup.ru
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