Russian developer APRI appoints chief architect as CEO

CHELYABINSK. March 2 (Interfax) - Pavel Krutolapov, former chief architect of the Russian property development company PJSC APRI , has been appointed CEO of the company, APRI's press service reported.

"As CEO, he will concentrate on scaling up PJSC APRI's business, including in the new regions of its presence, and on improving development projects and expanding the product offering," the press release reads.

Sergei Shal, CEO of APRI since October 2024, will leave his post on March 3.

According to APRI, Shal will also lose his powers as a member of the company's management board, which will subsequently be reduced to four people.

The APRI group has been engaged in residential real estate development since 2014. The group's portfolio includes 14 projects, two of which have been completed.

PJSC APRI conducted an IPO in the summer of 2024 and raised 880 million rubles. The worth of the whole company was estimated at 10.8 billion rubles. According to the company, OK-Finance LLC owns 89.7% of shares in APRI and another 10.3% are in free float. The largest shareholder of OK-Finance is Timofei Karabintsev, who holds a 38.7% stake.