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According to analytic studies of the construction market in Saint Petersburg and the Leningrad Region the Glorax Development has become the tegion’s uncontestable leader in terms of growth. The company within Andrey Birzin’s Glorax Group has expanded its construction volume in Saint Petersburg by 358,7 % – from 110 thousand sq.m to 504 thousand. The total investment portfolio has grown up to 2.5 million sq.m. At the same time the other leading players in the North-Western Federal District were growing at 15% to 103%.
Over the three years of operating in Saint Petersburg the Glorax Development company has launched six projects and the first buildings have been already commissioned. Among them are the Residential Complex Sherlock House in the Vyborgsky District and the 34th block of the RC English Mile on the Peterhof Road. Construction on these projects began in 2014.
In 2017 the developer has also announced an ambitious project of an industrial zone redevelopment in the Frunzensky District of Saint Petersburg. Investments into the Ligovsky City complex on the Ligovsky Prospect will reach 40 billion Roubles. The 25 ha area will become a comfortable urban space with business-class residential buildings, business centres, stores, parks, schools and pre-schools.
Worth noting is a major project called Golden City with the total commercial and residential built-up area of around 450 thousand sq. m. The complex will be located on the 15 ha reclaimed lands of the Vasilievsky Island. The project is expected to be completed in the late 2024, the investments amount will reach around 30 billion Roubles.
‘Our leadership in the region is the result of the joint efforts of the entire team of the Glorax Development. I am confident that we will keep on yielding stable high results. It is important for us to implement comprehensive projects that would create comfortable multifunctional environment for their future habitants, offer them a whole new concept of urban areas where there is everything one needs for living, work, recreation, education and creativity. I am sure that the recently announced major project Ligovsky City to the full extent complies with this principle and in addition it would reduce the industrial area which is one of the city’s acutest problems’, said Andrey Birzhin.
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