LSR Group (LSE: LSRG; MICEX-RTS: LSRG) reports record real estate sales in Yekaterinburg in 2012.
In 2012, in Yekaterinburg, we entered into new contracts for the sale of 82 th m2 of net sellable area, up 14% on 2011. That is an all-time record for our real estate development business in Yekaterinburg.
Launch of our new residential projects including “Progress” and “Berezovaja roshcha”, long awaited by customers, was one of the key factors that allowed us to deliver such strong results.
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 2011 (according to Cushman & Wakefield 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 124bn.
In 2011, the sales revenue of LSR Group were RUB 51,910m (IFRS). LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MICEX-RTS.
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LSR Group Press Service
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