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Andrey Birzhin announced the release of Glorax Development to the capital market

According to the head of Glorax Group, Andrey Birzhin, Glorax Development company begins its expansion to the Moscow market. The company launches the first capital project in the South-Eastern district on Nizhegorodskaya street, 74. The land acquisition transaction has been completed, the Land Commission has been passed. The volume of investments in the project will be about 2.3 billion roubles.

The concept of the first capital project requires the construction of a comfort class house with an area of 32 thousand square metres. In the underground part of the complex there will be parking, on the first level there will be commercial premises that will meet the needs of future residents in infrastructure facilities. One of the advantages of the project is a favourable location. A kilometre away from the project is “Nizhegorodskaya” MCC station, about the same distance is to the Third Ring Road. The construction of the residential complex will begin in 2019.
In just four years, Glorax Development has become one of the largest developers in St. Petersburg. This year it was recognized by market experts and professional community as the most actively developing company in the region. The total investment portfolio of Glorax Development is about 2.5 million square metres; now 600 thousand square meters are in the active stage of construction.

“It’s impossible to imagine Glorax Development without constant growth and development. Working in a highly competitive market, even in times of crisis, we managed to bring the company to the industry leaders. Therefore, entering the Moscow real estate market is a logical step. In St. Petersburg, Glorax Development has set a new tone in urban planning and the principles of creating large-scale projects that have become truly significant for the city, and we hope to repeat our success in the Moscow region,” commented Andrei Birzhin, the founder of Glorax Group.

Currently, Glorax Development has 8 comfort and business-class residential complexes in St. Petersburg and the Moscow region, including Ligovsky City and Golden City, high-profile projects of the complex territories development on Ligovsky Prospect and in the alluvial areas of Vasilyevsky Island. At the end of 2017, the development company took a leading position in the number of new construction projects and entered the TOP-5 developers of St. Petersburg. Glorax Development projects have won many international and Russian awards, which confirms the quality of the projects and compliance with international construction standards.