Implementation of New Project


Glorax Development (part of the Andrey Birzhin’s Glorax Group) plans to build in Saint Petersburg a comfort-class residential complex of 106,000 sq. m in area with its own infrastructure. Investment in the project will amount to 5.5 billion rubles.

The residential complex on Ligovsky Avenue will be the third project of the developer in Frunzensky District of the city. It is planned to build on the acquired land plot of the area of 2.8 Ha solid houses with built-in commercial premises and underground parking. Besides, it is also planned to build a kindergarten in the complex area.

“This is our seventh project in two years of active work in the market. The company continues to develop and we consider new sites not only in Saint Petersburg, but also in Moscow,” – said Dmitry Konovalov, Managing Partner of Glorax Development. – “The company’s current top priority is the development in markets of the two capitals”.

Let us recall that Glorax Development has recently acquired a land plot, which is a part of the “gray zone” of the city. In the course of redevelopment of industrial areas of Saint Petersburg, there will be a multifunctional complex with the area of 70,000 sq. meters built.

Glorax Development is in the TOP-10 of developers of Saint Petersburg. The company products are notable for a high quality of construction, attention to details and affordable prices. The developer’s current project portfolio is about 1 million sq. m.