LSR Group plans to boost sales 13% to 770,000 sq. meters in 2017
ST. PETERSBURG. March 17 (Interfax) - LSR Group plans to sell around 770,000 square meters of real estate in 2017, the company said in a report.
"Our strategic goal is to bring the level of our developer business in Moscow Region to the level we have reached in our home market in St. Petersburg. We are looking at 2017 optimistically and plan to sell around 770,000 square meters of real estate this year," LSR Group CEO Andrei Molchanov was quoted in the statement as saying.
In 2016 the group signed contracts to sell a total of 681,000 square meters of housing, which means that this year the figure could go up by 13%.
The forecast for the value of the contracts that the company plans to close in 2017 was not revealed in the statement. The company's sales increased 29% to 70.6 billion rubles in 2016.
"The main factor contributing to growth in financials [such as revenue and sales volume] is the company's decision to expand the scope of its business activity into Moscow," Molchanov said.