CJSC Mosstroyrekonstruktsiya (a subsidiary of LSR Group) has signed two contracts with Chief Army Support Department to design and construct a residential quarter for military personnel in Solnechnogorsk, the Moscow region. The total value of the contracts is RUB 3.6 billion (including VAT).
The new residential quarter (1,600 apartments, 90,239 sq.m.) will comprise of both high-rise Euro’PA buildings and low-rise houses. Under the contracts CJSC Mosstroyrekonstruktsiya is to provide design, engineering and construction services, including utilities connection.
The low-rise neighbourhood (1,000 apartments) construction is scheduled to begin in November 2011. On the area of 53.7 ha CJSC Mosstroyrekonstruktsiya will build EURO-houses up to three floors high, designed by the company. In 1Q2012 the company will begin the construction of high-rise buildings on the neighboring land plot of 5.7 ha. The objects will be transferred to the customer in stages: low-rise houses - in April 2013, high-rise buildings – in November 2013.
This is the second company’s project for the needs of the RF Ministry of Defence. Currently CJSC Mosstroyrekonstruktsiya is completing 6 residential houses of 140 th. sq.m. for military personnel in Balashikha, the Moscow region.
Ivan Romanov, Managing Director of LSR Group Moscow, comments:
“I believe Mosstroyrekontruktsiya was chosen as a subcontractor in this project, thanks to our reputation as a reliable company and due to advantages of the modern energy-efficient technologies we use. Moreover, our low-rise EURO-houses represent truly European quality and construction works can be completed within just three months. As a result, we are able to deliver the project of key importance to the government in a very short period of time.”
OJSC Zavod ZhBI-6, a subsidiary of LSR Group, will produce reinforced concrete items for the construction in Solnechnogorsk. Another subsidiary of LSR Group, OOO MSR Perspektiva, will provide design services in this project.
Note 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, Yekaterinburg and Ukraine.
In 2010, the sales revenues of LSR Group were RUB 49,950 million (IFRS).
LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MICEX and RTS.
CJSC  Mosstroyrekonstruktsiya is an investment and construction company founded in 2001. In 2007, the company completed its first project, the Dom na Davydkovskoy business class residential complex. In 2008, the company has strengthened its presence in Moscow’s real estate market through the acquisition of the property complex at Leningradskoye Shosse. In 2009 Mosstroyrekonstruktsiya became a subcontractor to construct a residential neighbourhood for the military personnel in Balashikha for the use by the RF Ministry of Defence. In 2010 it also became a subcontractor to construct a mass market residential neighbourhood in Reutov, the Moscow region. Moreover, in 2010 the company completed construction of the project – the Grunwald residential complex, launched its first low-rise mass-market development projects in Balashikha, Nakhabino and Leninsky district of the Moscow region. In 2011 the company started implementation of the residential neighbourhood construction in Domodedovo, the Moscow region. Moreover, the company is currently finishing design works and resettlement to start construction of the new multi-purpose business complex New Balchug at Sadovnicheskaya Street.