History
The Setl Group holding company has been developing its business since 1994, uniting a number of companies and enterprises operating both in Russia and abroad.
The first enterprise of the holding company — the construction company Petersburg Real Estate — was established in 1994. During the years that followed the holding was consistently entering various segments of the real estate market, creating and uniting professional companies specializing in certain business fields. Each new enterprise was opened in accordance with the then current market needs in anticipation of occupying the leading positions in these segments. As a result, today each company of the holding company is the leader in its area of specialization.
Before 2006 the holding company was known as Petersburg Real Estate Corp. In 2006, during the preparation for entering the bond market, a restructuring was held, which resulted in the transformation of Petersburg Real Estate Corp. into the holding named Setl Group.
2011
The Expert RA rating agency increased the credit score of Setl Group from the B++ level (acceptable credit level) to the A level (high credit level). The forecast is positive.
Setl City acquired a land plot about 30 ha in area near Devyatkino (St. Petersburg), to the west of the Devyatkino metro station and to the north of the Ring Motorway, where it is planned to build about 380,000 sq. m of residential real estate.
Setl City started the construction, while Petersburg Real Estate Corp started sales in a number of new residential complexes in St. Petersburg: RIO (Nevsky District), Atlanta 2 (Kalininsky District), MORE (Krasnoselsky District, the territory of the Baltic Pearl residential quarter), Marsel (Primorsky District).
Setl City started building the 2nd and 3rd stages of the Vienna residential quarter (Kudrovo, on the border with St. Petersburg). Besides, the construction of the Lake House business-class residential complex (Vyborgsky District, St. Petersburg) was completed.
Setl City Kaliningrad completed the transfer of 43 apartments in the Yuzhny Park (Southern Park) residential complex (Kaliningrad) to the Ministry of Defense under a state contract signed in November 2009.
Setl City Kaliningrad started the construction and opened sales in 3 projects: Prestige residential house (Kaliningrad), Alpenpark residential complex (Svetlogorsk, Kaliningrad Region) and Leto (Summer) residential complex (Svetlogorsk, Kaliningrad Region).
Petersburg Real Estate Corp gained another victory in the nomination Realtor Agency Deserving Consumers’ Trust of the Consumer’s Trust 2011 competition.
The Lake House residential estate became a laureate of the 3rd Annual Prize in the area of residential city real estate, Urban Awards 2011, in the nomination Business-class Residential Estate of the Year, St. Petersburg.
The Seven Capitals project, in which the Vienna residential quarter is being built today, won the first place in the Best Developer Project nomination of the traditional 17th Annual Interregional Public Competition in the Field of Real Estate KAISSA 2011.
2010
Setl City, developer and builder, started the construction, while SPbRealty started sales in the new Vienna block of houses situated near the intersection of the Ring Motorway and the Murmansk highway at the south-eastern border of St. Petersburg, not far from the biggest MEGA Dybenko shopping mall.
Setl City became a finalist of one of the most prestigious world’s competitions in the field of real estate, FIABCI Prix d'Excellence.
The Setl City company completed the construction of a big site in the north of the city: a 21-storey residential house at the Grazhdansky Prospekt metro station and started the construction of the Montreal residential estate in the Krasnoselsky District.
SPbRealty, a company of the Setl Group holding, made an agreement of strategic partnership with the VTB 24 bank.
SPbRealty became the winner of the 4th annual WEB – Realtor – 2010 competition. The Association of Realtors of St. Petersburg and Leningrad Oblast was the organizer of the competition.
SPbRealty won in the Consumer’s Trust 2010 Public Competition. The company won the first place in the Realtor Agency nomination, having outstripped 223 agencies by the number of votes.
SPbRealty, which is a part of the Setl Group holding, become the winner of the traditional 16th Annual Interregional Public Competition in the Field of Real Estate KAISSA 2010. The company won in the nomination The Best Company in the Market of Housing under Construction.
2009
SPbRealty and Setl City presented for the first time the project of a new block of houses, Vienna, at the Real Estate Fair in the Peterburgsky Sports and Concert Complex.
Setl City and Setlprof became one of the first construction organizations of St. Petersburg that were admitted to performing construction works under the self-regulation mechanism.
The Setl Group holding completed the construction of the Saimaa Lakeside cottage settlement in Finland. In July the settlement greeted its first lodgers.
The consulting centre of SPbRealty prepared a concept of the development of a big land plot, 24 ha in area, in the Petrodvorets District of the city.
The Expert RA rating agency increased the score of Setl Group Ltd. to the B++ level (acceptable reliability level).
The Setl Group holding became the winner of the Top 10 Housing Builders project. The Gde Zhit’ (Where to Live) magazine (Delovoy Peterburg publishing house) was the organizer of the competition.
Setl City completed the construction of two big projects: Avangard 16-storey house in Kalininsky district and Yuzhnaya Korona (Southern Crown) comfortable-class residential estate. The company started the construction of a new business-class residential estate, Cosmos, in Moskovsky District and started implementing a project for the construction of a big residential estate, Tokyo, in Primorsky District.
The Setl Group holding is implementing big state contracts in Kaliningrad, Vladivostok, and Nevelsk (Sakhalin Region).
2008
The Setl Group holding implemented its first project in Finland, which is a cottage village named Tahko Hills. The 10-house village is located on a three-hectare plot in the Tahko resort area, at the shore of Lake Syväri.
Setl City started implementing its Class A business park project near the Ring Highway (not far from Kudrovo, Vsevolozhsk District.) The development site area is 25 hectares. The total area of the complex will be about 150,000 sq. m.
Northern Art Nouveau in Petrogradskaya, the elite residential house built by Setl City at 18 Podrezova Street in Petrogradsky District, became the winner of the “The Link of Times” competition sponsored by the Live City public movement.
Setl Group reaches Omsk, intending to build a multifunctional complex of the total area of about 400,000 m2 in the center of Omsk, on the Irtysh River side. The project provides for integrated development of an area of 30 hectares. Under the project, about 300,000 m2 of high-comfort residential premises and nearly 100,000 m2 of business premises will be erected, including a business center.
The Setl Group holding won the “Your Home Builder” project in the “Top Ten Elite Realty Builders” nomination. The project was sponsored by Gde Zhit’ (Where To Live), a magazine of the Delovoy Peterburg Publishing House.
The subsidiary of the United Construction Trust holding operating in Kaliningrad was renamed Setl City Kaliningrad. Thus, the company’s name was brought into compliance with the brand of its parent operating in St. Petersburg.
The St. Petersburg Realty company won the first prize in the “Consumer’s Trust 2008” public contest. The contest was initiated by the Consumers’ Society of St. Petersburg and Leningrad Oblast.
The Savings Bank and the Setl Group holding announced signing of a contract for cooperation in mortgage crediting under the Mortgage Plus program. This is another project in the framework of long-standing co-operation between the bank and one of the largest developers in the region.
2007
The opening bonded loan of Setl Group has been fully floated at the Moscow Interbank Currency Exchange. The demand for bonds in the course of the auction considerably exceeded 1 billion roubles, which has confirmed once again the high trust of investors in the company and shown the high degree of its reliability and stability. One of the four biggest auditing companies of KPMG is the auditor of the holding company’s financial reporting according to the IFRS.
The Setl City company has started implementing one of the biggest projects in St. Petersburg for the construction of an A-class business block 150,000 sq. m in area in the Malaya Okhta district and undertaken the developer’s functions for the project of dwelling construction on a 100 ha territory in the Kudrovo district. The area of the company’s projects in various stages of preparation and implementation is about 2 million sq. m. (housing and commercial sites). Petersburg Real Estate Corp. and Praktis are the consultants for the projects.
Setl City won public tender for design and reconstruction of the Mikhailovskaya Dacha palace and park ensemble and construction of buildings to accommodate the Higher Management School of FGOU VPO St. Petersburg State University located at 109 Sankt-Peterburgskoye Shosse, Petrodvorets, St. Petersburg. Under the project, it is intended to reconstruct the existing buildings of the Mikhailovskaya Dacha palace and park ensemble, which are to accommodate the main educational building, office building, manager training center, and a research institute. It is also intended to erect new buildings and structures, such as a set of students’ hostels, a gym/recreational complex with a swimming pool, a domestic/utility building, a students’ cafe, and outdoor guest parking lots.
2006
A decision was taken on the issue of a 1 billion roubles bonded loan by the Setl Group holding. The issue was planned for the second quarter of 2007. In the framework of preparation for bonded loan floatation, a restructuring of the holding company was held. Financial reports based on international standards were prepared.
New companies — Setl Estate (brokerage in regions), Setvill (construction of cottage settlements in the suburbs of St. Petersburg and Leningrad Oblast), Setl North Europe OY (construction of cottage settlements in Finland) and the Baltic Hypothecary Corporation (mortgage lending in the framework of the AIZhK (Agency for Housing Mortgage Lending) programme) established within the holding company started and continued their operations. The Petersburg Real Estate construction company, also a part of the Setl Group holding company, was given the new name of Setl City.
The holding company successfully implemented a regional development programme. Branches of brokerage divisions were opened in several cities of Russia (Kaliningrad, Veliky Novgorod, Yaroslavl, Murmansk, Arkhangelsk).
Vyacheslav Semenenko, Vice-President of the Petersburg Real Estate Corp., was elected the President of the Association of Realtors of St. Petersburg and Leningrad Oblast.
2005
The company entered the country construction market. The first cottage settlement project was implemented in Vsevolozhsky District. Several projects were prepared in Kurortny district of St. Petersburg, as well as in Gatchinsky, Priozersky and Vsevolozhsky Districts of Leningrad Oblast. The company signed an agreement of cooperation with the biggest Finnish manufacturer of wooden houses, Honkatalot. The new company Honvill, a member of the holding company, acted as the official representative of Honkatalot in the Northwestern region and supplied complete sets of wooden houses for big investment projects and private developers.
The Praktis company was established within the holding company, which signed the first contracts of dwelling houses operation and provided a wide range of brokerage services in the commercial real estate market.
The head of the holding Maxim Shubarev was elected the President of the Association Construction and Industry Complex of the North-West.
2004
The holding company was one of the first in St. Petersburg to start working in the field of comprehensive development of large areas. Government’s permission was obtained to prepare development concepts for two areas 21 and 32 ha in Primorsky District of St. Petersburg and Petrodvorets (near the Peterhoff palace and park ensemble).
LLC Avangard Multimedia Systems, an enterprise specializing in developing software and multimedia products, was established within the holding company. In the course of fruitful work in 2003-2004 the company won a stable position in the Russia’s market of computer technologies and established serious business relations both with domestic and big foreign customers.
2003
As another developer project, the holding company acquires the Druzhba hotel for the purpose of subsequent renovation and sale. As a result of renovation, the hotel was transformed into a fashionable hotel complex Andersen Hotel of the three star class according to the international standards.
2002
The holding company enters the real estate and construction market of Kaliningrad. A new company within the holding company — United Construction Trust — is registered in the city. The new company starts working on new projects — comfort-class residential complexes in a prestigious area of the city.
2001
Petersburg Real Estate Corp. became the winner of the Professional Recognition competition in the nomination «The Best Brokerage Company of Russia».
The company is the leader of the city’s real estate market by the number of real estate purchase and sale transactions.
2000
The brokerage companies of the holding company started active development of a network of branches. The second office of the company was opened in the historical centre of the city. The plans for the near future included opening offices in Primorsky, Tsentralny and Vyborgsky districts.
1999
A member of the holding company — the Petersburg Real Estate — became laureate of the Caissa public city competition in the field of real estate and won two awards «For Contribution to the Development of the Real Estate Market».
1998
In 1998 against the background of the active enlargement of construction scope, the holding company started mastering a new promising area of operations — brokerage in the market of construction materials. For this purpose, the Investstroy company was founded. In due course the holding company confidently became a member of the group of the biggest regional suppliers, providing materials both to own sites and to scores of other construction sites of St. Petersburg.
1997
The company made a new offer to participants of the market — professional brokerage services in the primary housing market. The Petersburg Real Estate Project Development Centre specializing in this area of activities was formed within the holding company.
At the same time, the holding company entered the commercial real estate segment. The first business centre of the holding company — 24, Obvodny — was acquired.
1996
Petersburg Real Estate company becomes the leading expert of the real estate market of St. Petersburg. The company won a tender for holding a marketing research of the real estate market of St. Petersburg and developed a plan for housing sales in the framework of the Housing Project of the Russian Federation to the order of the City Administration and the International Bank for Reconstruction and Development (the land auction in Kamenka and Kolomyagi). In the same year, jointly with the Administration of the City, the company prepared a Programme for the Renovation of the Historical Centre of St. Petersburg and took part in creating a culture and recreation area on Petrovsky Island.
The intensive construction activity of the holding company is continuing. New projects have been launched in Vyborgsky, Tsentralny amd Moskovsky districts.
1995
In 1995, when a legal market of real estate appeared in St. Petersburg, a CJSC Petersburg Real Estate Agency was opened within the holding company, and just in two years it was confidently holding the position of the biggest realtor company in St. Petersburg.
1994
The first and key business area of Setl Group was opened: housing construction. The newly established Financial and Construction Company Petersburg Real Estate started the completion of a housing construction cooperative site that remained unfinished as a result of inflation — a brick house in Byelorusskaya street. In a year the house was successfully commissioned, having laid the foundation of many years of the holding company’s successful construction investment business.