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Etalon increases sales

Eurobuild CEE 16 October 2019

RUSSIA Residential developer Etalon signed 9,109 sales contracts in the first nine months of the year, up 13 pct on the same period in 2018.

The sales came to a total of RUB 55.8 bln [EUR 785 mln] up 26 pct with a total area of 458,869 sqm up 10 pct. “These results represent 66 pct of our annual sales target in square metres and 70 pct of the our financial targets,” said Gennadiy Shcherbina, the CEO of Etalon Group.

Real estate sales in the Moscow area made a significant contribution to Etalon Group’s results. “Through the acquisition of Leader-Invest’s premium projects, sales in monetary terms in Moscow increased by 52 pct year-on-year to RUB 32.5 bln, and cash payments reached nearly RUB 36 bln, increasing by 77 pct y-o-y, which confirms our view that this region will be the most promising for development in the years ahead. We anticipate that the transition to a single Etalon Group brand in October 2019 will help to further strengthen the company's position in Moscow and will provide strong support for operating performance,” said Maxim Berlovich, Etalon Group’s head of Moscow operations.

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