Glorax Development to extend its presence in the Saint-Petersburg market


Currently Glorax Development (part of Glorax Group) is implementing five projects in the northern capital, including Golden City – a large-scale development project for the levees on Vasilyevsky Island. At the end of June, the Company announced the start of construction on two new comfort-class residential complexes. The projects are part of the Company’s obligations to complete facilities belonging to Chesma-Invest.

“Residential development projects are a principal area of focus for us, but we also look towards retail property and the construction of multifunctional centers,” said Dmitry Konovalov, Managing Partner, commenting on the Company’s development strategy.

In the long term, Glorax Development will continue to develop its project portfolio, which currently includes around 1 million square meters.