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Setl Group Sales Up 70% in Quarter 1

2019 april 17

Based on the Quarter 1 results, the sales of the Setl Group holding grew by 70.3% in monetary terms compared to the similar period of 2018, amounting to nearly 25 billion rubles. In physical terms, the sales went up by 42.2% to 201,000 sq. m, and the total of transactions in all kinds of spaces increased by 41.7%. In the first quarter of this year, the holding proceeded to construct 11 new residential buildings. Among them is The ONE, a premium class project in Petrovsky Island, on the bank of the Malaya Neva, and two business class houses in Svetlana Park, Manchesterskaya Street. Setl Group has also started construction of new buildings in two large comfort class projects within St. Petersburg, Sun City in Krasnoselsky District and Clear Sky in Primorsky District. Besides, the holding has proceeded to the construction of a second kindergarten in the London block of the Seven Capitals estate in Kudrovo. The kindergarten is designed for 190 places and will host 10 groups of children. The scheduled commissioning time is Quarter 1, 2020. Based on the results of Q1, 2019 the marketable area of Setl Group projects in active progress of construction is 1.88 million sq. m, which is 15.9 % more than in Q1 of 2018. The marketable area of flats, apartments, and business spaces (storerooms included) in the Setl Group projects where construction permits have been obtained is 3.5 million sq. m, and the marketable area including the parking lot area is 4.25 million sq. m. Petersburg Real Estate is the exclusive broker of Setl Group projects in St. Petersburg and Leningrad Oblast.

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Companies of Setl Group holding