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Etalon sees 10 pct asset growth

Rafał Ostrowski 12 March 2018

Rafał Ostrowski


+48 22 356 25 11

Rafał Ostrowski has over 17 years’ experience as a journalist. Before joining ‘Eurobuild CEE’ five years ago, he wrote for Wydawnictwo Murator and Shopping Centre Magazine, as well as for retailnet.pl. He has also written for many newspapers and magazines as a freelancer and prepared photo-reportages. Rafał graduated from the University of Warsaw in philosophy. He also completed postgraduate studies in text editing. For ‘Eurobuild CEE’ he covers most real estate sectors, including logistics, construction, office, residential and retail. He is also in charge of the film direction for Eurobuild TV.

RUSSIA The total value of Etalon’s assets reached RUB 135 bln (USD 2.3 bln) according to an asset valuation as of December 31st, 2017, conducted by Knight Frank. v

The asset valuation includes the valuation of the company’s project portfolio, which increased by 10 bln from RUB 116 bln as of 31 December 2016 to RUB 127 bln as of 31 December 2017. The 10 pct increase in the open market value of Etalon’s project portfolio was supported by the acquisition of projects in Moscow and St Petersburg, as well as further progress at existing sites. “Our 2017 acquisitions included three business class projects that will enable Etalon Group to further diversify its portfolio into the higher-end market segment in both Moscow and St Petersburg,” commented Viacheslav Zarenkov.

Furthermore, the integration of a number of Etalon Group’s smaller business units into a single construction and maintenance business carried out in 2017 enabled Knight Frank to conduct a valuation of the unified company, valuing it at RUB 8.3 bln. “In accordance with previously announced plans, in 2017 we consolidated our construction, maintenance and service entities into a separate division with centralised management and KPIs that are tied to Etalon Group’s overall strategic goals. With the process of integration complete, we can now treat the new business unit as an asset for valuation. We expect that increases in operating efficiency and a common marketing strategy will help this division to deliver on its great potential for further growth,” commented Viacheslav Zarenkov, Etalon Group president.

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