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CDS Group announces operating results for q3 and the first 9 months of 2021

The CDS Group, one of the leading developers in St. Petersburg and the Leningrad region, announces today its key operational results for Q3 and the first 9 months of 2021.

Key achievements:

  • The total current construction volume of the Group for the end of Q3 2021 amounted to 857.7 thousand sq m, exceeding the 1 January 2021 volumes by 17.9%
  • In the first 9 months of 2021 the Group completed 396.3 thousand sq m of residential property, including 286.1 thousand sq m in Q3
  • In the first 9 months of 2021 the Group offered for sale 294.0 thousand sq m if property, including 172.7 thousand sq m in Q3
  • The sales of residential property amounted to 158.3 thousand sq m in the firstr 9 months of 2021, including 48.8 thousand sq m in Q3 2021

 Mikhail Medvedev, General Director of the CDS Group commented on that:

“We have continued to increase construction volumes in Q3 2021 and we believe that we will maintain current growth rates for the foreseeable future. Due to our production plans, the CDS Group expects even to exceed the 1 million sq m construction benchmark in the coming months. At the same time, we remain very timely in terms of the commissioning of our projects and can assure our clients about the delivery of our properties on time or even in advance. We keep our promises and we are committed to the quality of our properties — that’s what reinforces our industry leadership and allows us to maintain our superb sales performance”.

Major highlights of Q3 2021:

  • 16 June 2021. The Group offered for sale a newly built comfort‐class CDS Dreamline residential property in the Primorksiy district of St. Petersburg (530 apartments)
  • 5 August 2021. Otkrytiye Bank opened a credit line for the Group in the amount of RUB 11.5 bn to provide funding for the construction of the Group’s “Novye Gorizonty” residential estates, representing 185 thousand sq m in total
  • 10 August 2021. VTB Bank launched the first credit facility for the Group in the amount of RUB 2.5 bn (maturing in Q2 2024) to fund the construction of the next stage of the CDS Dreamline residential estate project, representing an area of 35.4 thousand sq m
  • 18 September 2021. The Group launched the construction and opened sales for the second phase of the large scale “Gorod Pervykh” residential block, representing an area of 105 thousand sq m

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