City House Building Company (OOO GDSK), a subsidiary of LSR Group, started construction work and sales of the flats in the new stage of the Yuzhny project. The net sellable area of the constructed residential unit is approximately 39 thousand square meters. The completion date is planned for the fourth quarter of 2011.

The project is being developed in the Krasnoselsky district of St. Petersburg, on the land plot bounded by Leninsky Prospekt and Marshala Kazakova Street. The district has well-developed social and commercial infrastructure, public transport communications and access to the Ring Road. 

OOO GDSK has already started the sale of flats in another 18-storey prefabricated panel residential unit made of components produced by one of LSR Group’s housebuilding factories, OJSC Gatchinsky DSK.

According to the project specifications, the residential unit will consist of 784 flats of 34-78 square meters fully fitted out.

The new residential unit is a part of the Yuzhny project with a net sellable area of approximately 260 thousand square meters. In 2010 it is expected to complete the first five residential units of 176 thousand square meters of net sellable area.