Etalon Group starts to sell units at St. Petersburg housing development

Russian housebuilder Etalon Group has started to sell units at its Fusion project in the Vyborgskiy district of St. Petersburg.

The new business-class residential project comprises a nine-storey building with 110 flats, an 83-place parking garage, and a nursery.

Etalon bought the project last December and expects to complete it in 2019.

At the end of 2016, Etalon’s portfolio comprised of 35 projects, with a total of 2.82m square metres of unsold area and Jones Lang LaSalle, a US commercial property and investment manager valued the portfolio at 115.81m roubles.

The company recorded revenue of 49bn roubles and earnings before interest, tax, depreciation and amortisation (EBITDA) of 7.3bn roubles for 2016.

Shares in Etalon Group were down 2.64% to $3.69 at 0959 BST.