Etalon acquires new project in St Petersburg

Russian construction group Etalon said Tuesday it had acquired the rights to a land plot in the Moskovskiy district of St Petersburg for the development of a new residential project.

The total planned net sellable area of the new project is more than 100,000 square metres, and included residential space, commercial premises and a parking garage.

As most permits had already been obtained, the company said it aimed to begin construction and launch sales in early 2019.

The development would also benefit from good transport accessibility, with a metro station and several other public transportation stops nearby, the company said.