A Plus Estate (a subsidiary of LSR Group) has signed new rent contract for prime commercial property in “Orlov” office center, which belongs to “Paradny Kvartal” complex. The new tenant – Russian-Finnish clinic “Scandinavia” will occupy 432,8 sq. m on the ground floor of the 4-storey office building in “Paradny Kvartal” – the first luxurious neighborhood in St. Petersburg, which is being constructed by other company of LSR Group - OJSC “Construction Corporation “Renaissance of St. Petersburg”. 

According to the management of “Scandinavia”, the new clinic will possess the most contemporary medical equipment and the best specialists will take care of health of children and adults. The clinic will provide various kinds of diagnostics, including laboratory researches as well as pediatrician and maternity related services.

Yuri Ilyin, CEO of A Plus Estate commented:

«Of course, we welcome all key tenants, but “Paradny Kvartal” is a special case. This complex includes both commercial and residential real estate and we try to attract such companies as tenants which will increase its attractiveness and make life and working conditions there more comfortable. That is why among the tenants in “Paradny Kvartal” besides of “Scandinavia” clinic there are companies such as German law firm “Beiten Burkhardt” and representative office of one of the large banks (rent contract is in the process of signing). I think that this new rent contract demonstrates that high-end real estate in the best areas of the city, such as properties managed by A Plus Estate, is still in demand.

Note to Editors:

Paradny Quarter is a mixed-use office and residential development, the first posh neighbourhood in St. Petersburg.

Paradny Quarter is the first project involving the construction of a large-scale office and residential compound of deluxe class in the historic centre of St. Petersburg. The project includes a whole block of residential buildings, business and shopping centres, as well as new streets and squares. The project site borders on Kirochnaya Street, Radischeva Street, Vilensky Pereulok and Paradnaya Street.

In close vicinity to Paradny Quarter are the Tauride Garden and the Smolny Cathedral. The high status of the location manifests itself in the fact that next to it are the Governor’s Office and the buildings of the Administration of St. Petersburg and the Government of the Leningrad Region. The project is situated in the downtown area and has a good transport infrastructure.

The development comprises 16 buildings 8 of them being detached office mansions of Class A with their own underground parking lots. All of the buildings are of the same classical architecture style with similar engineering solutions used. The 8 to 11-storied residential buildings are provided with a pedestrian area. Their ground floors will accommodate a fitness centre with a swimming pool, cafés, shops and offices. The flats on the upper floors will have access to open terraces with panoramic views of the Smolny Cathedral and the Tauride Garden. An underground parking lot will be built under the residential buildings – the largest underground parking area in central St. Petersburg.

A Plus Estate  (a subsidiary of LSR Group) operates on commercial real estate market since 2007.

Company’s activities include:

∙ asset management of commercial properties owned by LSR Group;

∙ preparation of commercial properties investment projects;

∙ land development for commercial real estate purposes, including preliminary concept design, permitting, zoning and etc. 

Today A Plus Estate together with other companies of LSR Group is working on realization of unique prime office projects in St. Petersburg and Moscow.

OJSC Construction Corporation Renaissance of St. Petersburg (a company of LSR Group)   is a leader of the elite property development market in St. Petersburg. The corporation was founded in 1994 and is today one of the largest construction companies in Russia. The track record of the company includes 34 projects successfully implemented in the most prestigious, challenging and important locations of the historic centre of St. Petersburg — a total of 68 residential buildings. The company prides itself on the restored buildings that are of historic value for the city being architectural monuments of the 18th and 19th centuries. Currently work is underway to construct Phase 1 of Paradny Quarter – the first posh neighbourhood in St. Petersburg, and deluxe residential compounds such as Dom u Morya (Seaside House), 60 Shpalernaya (Phase 3) and Suvorovsky Residence. New projects are being prepared.

OJSC LSR Group  is a real estate and building materials company founded in 1993 and operating in a number of complementary market segments. Its core business areas are building materials, construction and real estate. The Group includes enterprises for extraction and processing of aggregates, production and transportation of building materials, and housing construction — from mass market large-panel housing to elite property built after designs made by leading domestic and foreign architects.

LSR Group has operations and offices in a number of cities in the Leningrad region, in St. Petersburg, Moscow, Yekaterinburg, Lithuania, Latvia, Estonia, Ukraine and Germany.

In 2007, the sales revenues of LSR Group (according to the IFRS-based financial statements) were RUB 35,858 million, in 2008 – RUB 49,813 million.

LSR Group is a public company, with its GDRs listed and traded on the London Stock Exchange and its shares listed and traded on MICEX and RTS.

In 2007, LSR Group was awarded ‘The Company of the Year’ National Award in the ‘Construction’ category.

The Russian-Finnish clinic Scandinavia is a large multi-field centre with a network of outpatient departments. The clinic was established in 2004 as part of the AVA international network.

The main distinctive feature of the clinic is that it presents all the medical services in complex – from diagnostics to high technology surgical operations. The services include diagnostics, outpatient care, pediatrics, surgery, maternity department, trauma surgery, dentistry and ambulance.

As of today the St. Petersburg network includes the central clinic, 6 district departments, 3 administrative offices, a call-centre, a warehouse and a pharmacy.

In 2004-2008 around 123,600 patients visited Scandinavia medical center.