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Green light for Petrovskiy project

Eurobuild CEE 02 February 2018

RUSSIA Etalon has received a building permit for a residential project on Petrovskiy Island in St Petersburg.

It is to comprise two seven-storey and one nine-storey residential building, as well as an underground car park with 395 parking spaces, and commercial premises. The expected net salable area of the project is 73,000 sqm, including 47,000 sqm of residential space with 3.3m ceilings.

Outdoor areas will include playgrounds, seating areas, footpaths and sports and other outdoor furniture. The western section will include a public square that connects to the Southern Pier. The development is next to one of the biggest yachting clubs in St Petersburg and within walking distance of Maritime Victory Park and an amusement park on Krestovskiy Island.

This project was acquired by Etalon Group in 2017 as part of its strategy of acquiring projects that can be completed within 6-18 months.

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