Samolet developer expecting sales of around 1.3 mln sqm in 2024, no less in 2025

MOSCOW. Dec 12 (Interfax) - Samolet expects sales of around 1.3 million square meters in 2024 and at least the same level in 2025, the developer said.

Samolet sold 1.192 million square meters totaling 258.3 billion rubles in January-November 2024, the developer said, with the average price rising 16% year-on-year to 213,600 rubles per square meter.

Cash receipts reached 251.2 billion rubles. Account balances total 30 billion rubles.

The share of contracts concluded with the participation of mortgage funds totaled 74%.

"Commissioning should total around 1.6 million square meters and sales around 1.3 million square meters in 2024. We plan to launch more than 20 new projects in Russia's regions, as well as solidify our positions in Moscow, in 2025. We expect deferred demand to form owing to the Central Bank of Russia retaining a high key rate," Samolet CEO Anna Akinshina said.

"We expect to reach sales volumes by the end of the year in 2025 at least at the level of 2024 accounting for expanding geographic diversification and offering our clients various tools for purchasing housing," she said.

"We plan to update the dividend policy by mid-2025 accounting for the Central Bank's long-term tight monetary policy," Akinshina said.

Samolet Group is the leader in terms of current construction volume in Russia. Mikhail Kenin and Pavel Golubkov are the group's largest shareholders according to the latest available information. The company's shares have traded on the Moscow Exchange since autumn 2020.