Glorax Development Secures First Land Plot Purchase Transaction in 2021

09.03.2021

Glorax Development had completed a transaction on the purchase of a land plot for housing construction in the Primorsky District of St. Petersburg. On an area of 2.9 hectares, the company plans to implement a unique business-class project with a total area of 80,000 sq. m., the selling area to be 45,000 sq. m. Investments in the project will amount to about RUB 7,8 billion. Currently, the company is developing about 10 sites in St. Petersburg, and more transactions are to be announced soon.

“The purchase of a land plot on Beloostrovskaya Street is the first of several land acquisition transactions to be completed this year. We are already signing contracts for three more sites in St. Petersburg, and in the near future we will announce details. But the interests of our company are not focused on the Northern capital alone, as our goal is to extend to the federal level in 2021. Active work is underway to find interesting sites in Moscow, Nizhny Novgorod, the Krasnodar Region and elsewhere,” said Andrei Birzhin, President of Glorax Development.

The project area is located in the city center, on a site within the boundaries of Beloosstrovskaya, Zemledelcheskaya and Studencheskaya Streets. In terms of the project, a multifunctional complex will be erected to include housing and apartments with a service function. The project provides for public areas, a rich retail function, as well as walking areas to connect Beloostrovskaya and Studencheskaya Streets and to be available not only to residents of the project, but to all residents of the district as well.

Within walking distance from the site, there are two metro stations – Lesnaya and Chernaya Rechka – and several green areas – Pionersky and Stroganovsky Parks, as well as the Park of Forestry Academy. The location is only a 10-minute car ride from the business and entertainment infrastructure of the Petrogradskaya Side of the city.

A. Len, a leading architectural bureau of St. Petersburg, has been invited to design a new residential complex on Beloostrovskaya Street. The bureau has already cooperated with Glorax Development in creating a grandiose Golden City complex. A. Len has an extensive experience of cooperation with leading foreign design companies from Austria, Great Britain, Germany and Sweden, and a total portfolio of more than 500 completed projects.

“Our company pays great attention to the architectural component of projects, and cooperation with the best architects allows us to implement the world’s best practices and trends in urban planning and architecture, adapting them to Russian standards. St. Petersburg deserves the best architecture, and its residents deserve a comfortable life in houses with a unique appearance. A modern buyer does not want to live in a standard project, instead preferring to purchase real estate in a special place with memorable façade solutions. The task of market leaders is not just to sell square meters, but to create architectural dominants of the city and to form a new level of living in modern complexes,” said Dmitry Nizkovsky, Vice-President for Development at Glorax Development.

“The demands of modern buyers are growing every year, but we are focused on setting a completely new level of understanding the comfort of living. Well-thought commercial and social infrastructure, playgrounds for the harmonious development of children of different ages, sports facilities, a community center, coworking spaces – these are the attributes allowing us to create the necessary multifunctional space. We will build the residential complex on Beloostrovskaya Street in line with the Glorax Life concept aimed at creating both the most comfortable living conditions and also opportunities for diversified development in a community of like-minded people,” said Andrei Birzhin.