LSR Group to construct new residential complex

LSR Group to construct new residential complex in St. Petersburg

LSR Group starts a new residential project of 806 th sq m, "New Okhta", located in the Krasnogvardeyskiy district of St.Petersburg. The complex will be built on the land plot of 110.5 ha. The project's developer is LSR. Real estate - North-West.

The new complex will be built in three stages. The first stage is construction of 23 residential buildings up to 19 storeys high. The total residential area is 340 th sq m which amounts to 5,377 apartments. The area of commercial premises is 10.5 th sq m. The first stage of construction is scheduled for completion in the end of 2015. The whole project is planned to be completed in 2017.

"New Okhta" residential complex will be built using "seamless" energy-efficient facade fit-out technology which guarantees high insulation properties and comfort micro-climate, compared to traditional prefabricated buildings.

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 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.

For more details please contact:LSR Group Press ServiceTel.: +7 812 314 10 44Fax: +7 812 458 83 72E-mail: [email protected]www.lsrgroup.ru