OREANDA-NEWS. On 03 April 2008 was announced, that OJSG LSR Group finalized the acquisition of a 100% stake in OOO Promrezerv, a Yekaterinburg company holding a long-term lease of a land plot of more than 9.8 hectares in Yekaterinburg. The acquisition costs totalled ?7.065 million. The transaction was approved by the Board of LSR Group in February 2008.

LSR Group proposes to use the land for neighbourhood real estate developments to include an economy class residential compound with a garage complex and a Class B office building, as well as service outlets and various local shops. According to the development concept, the total building area is estimated at 147,000 sq.m.

Even today the district features a developed social infrastructure with schools, supermarkets and other facilities in close vicinity to the future development.

The area also boasts easy transportation access. In the long-term, the City Development Plan up to 2025 includes a proposal to build a metro line.