CJSC Mosstroyrekonstruktsiya (a subsidiary of LSR Group) has entered into an investment contract to develop an upper business class segment residential complex in the south-west administrative district of Moscow. The complex of a total net sellable area of 170 thousand square meters is planned to be constructed on the plot of land of 4.7 hectares near the Leninsky Prospekt.

The new complex is planned to include 5 residential units, a three-level underground parking, leisure and retail areas as well as an emergency medical care centre and fitness centre.

The estimated amount of investment into the project by CJSC Mosstroyrekonstruktsiya is RUR 18 billion According to the terms of the investment contract, after the project implementation 70% of sellable area of the new complex will be transferred to CJSC Mosstroyrekonstruktsiya ownership.

The construction is planned to start in 2011 with estimated completion date of the first project phase (85 thousand square meters of the net sellable area) in 2014 and the second project phase (85 thousand square meters of the net sellable area) in 2016.