Support The Moscow Times!

Etalon Plans Expansion

Etalon Group seeks to expand in Moscow and double construction volume from 2007 levels by 2014, said chief executive Vyacheslav Zarenkov.

The St. Petersburg-based developer of "mass-market" apartment blocks plans to construct 319,000 square meters of housing this year, with 96,000 square meters in Moscow and the rest in St. Petersburg, Zarenkov said in an interview in London last week.

That's 53 percent more than last year, when the company built 209,000 square meters, all in St. Petersburg.

Prices of apartments targeting "middle-income" Russians in St. Petersburg and Moscow's metropolitan area are set to rise about 7 percent this year and fully recover to pre-crisis levels by the end of 2012, Zarenkov estimated.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.