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Setl City Starts the Construction and Sales in the 3rd Stage of the MORE Residential Estate

2013 may 20

Setl City (a company of Setl Group) has started the construction of the 3rd stage of the MORE Residential Estate situated in the area of the Baltic Pearl estate in Krasnoselsky District of St. Petersburg. The investment in the construction is estimated at 8 billion roubles. Commissioning of the first house is expected in the 1st quarter of 2015. St. Petersburg Realty is the exclusive broker of the project. The 1st house being built in the framework of the 3rd stage of the project will have 607 apartments, from studios to four-room apartments. 10 sections of different heights (10, 12 and 17 storeys) are designed in the house, where commercial spaces will be placed on the ground floors. Besides, near the first house, the construction of three detached underground parking lots with the total capacity for 273 cars is expected. All in all, 5 houses over 100,000 sq. m in total area and parking lots for more than 900 cars will be built in the 3rd stage of the MORE project. A completely new social, shopping and service infrastructure of the Baltic Pearl estate is at the service of the tenants of the new residential estate. There will be a new kindergarten and school in immediate proximity to the developed land plots. It is to be recalled that Setl City is planning to build about 285,000 sq. m of comfort-class housing in the area of the Baltic Pearl estate. The 1st stage of the project has been already commissioned 5 months earlier than stated in the project declaration.

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Companies of Setl Group holding