Glorax Development company, a member of Andrey Birzhin’s Glorax Group, has completed a deal to a land purchase in Frunzensky District of Saint Petersburg. On an area of 1.6 hectares a business class residential complex construction is planned, total area of which will amount to over 40 000 sq. m. The project provides residential and commercial premises. Currently the site is occupied by buildings of a transport enterprise, which will subsequently be demolished. The amount invested in the new project will be up to 2.5 billion rubles.
This is the third project in the framework of the historic city center’s renovation, which will be a continuation of the residential complexes, located on Ligovsky Prospekt, 271 and 232. All three of the residential complexes will be implemented in the framework of a unified concept, establishing a new environment with modern accommodation, its own infrastructure and comprehensive landscaping. Good transport accessibility will be provided by two underground stations and the projected station “Borovaya”.
The construction of the residential complex “The First quarter” on Ligovsky, 271, has begun this summer. Here there will be built 106 000 sq. m. of housing and commercial space, private kindergarten and underground parking. The construction of the second project, Ligovsky Prospekt, 232 — will start at the end of the year; it involves the construction of over 80,000 sq. m. The access to the third platform is planned for Q4, 2018. In total there will be invested more than 10 billion rubles into the projects on Ligovsky Prospekt.
Glorax Development is a group of Glorax companies, founded by entrepreneur Andrey Birzhin. The company specializes on the construction of residential complexes, commercial real estate, and also objects of social infrastructure. Regions: Saint Petersburg, Moscow, the Moscow region. Top 5 developers of Saint Petersburg. Investment portfolio — more than 2 million sq. m. In the active stage of construction — 500 000 sq. m.