Etalon gets construction permit for Galactica project
Source - SMW
Etalon Group, one of Russia's largest and longest-established development and construction companies, has received a construction permit for the first two residential buildings of its Galactica project in St. Petersburg.
Etalon Group also expects to receive construction permits for several other residential buildings in the project in the near future. Galactica is Etalon Group's largest project in St. Petersburg. It will be built on a 38-hectare land plot, and will have a total net sellable area of 838 ths sqm.
The project is situated by Moskovsky Prospect and Naberezhnaya Obvodnogo Kanala, just south of central St. Petersburg, which makes it a prestigious location for both living and doing business.
The nearest metro stations, Frunzenskaya and Moskovskiye Vorota, can be reached from the development by foot in just 10-15 minutes.
According to the results of Etalon Group's landbank valuation conducted by JLL, as of 31 December 2015, the potential income from sales was estimated at over RUB70 billion.