OREANDA-NEWS. January 31, 2013. Joint Stock Company "Open Investments" (JSC "OPIN" or the "Company") (BLOOMBERG: MICEX - OPIN.RM), the first publicly traded real estate developer in Russia, announces sales results for the year ended 31 December 2012 in its key development projects Pavlovo 2, Pestovo, Martemyanovo and a new project Pestovo Life.

Highlights:

-   For 2012 the Company signed 244 contracts all totalling USD 108.9 million. Out of total contracted revenue Pavlovo 2 brought USD 54.7 million, Pestovo USD 27.9 million and Martemyanovo USD 21.4 million. USD 5.0 million of revenue came from the sales of land plots in the new Pestovo Life community.

-   During the year the Company signed 47 mortgage contracts totalling USD 23.2 million, which represented 19% of total 2012 sales.

-   For 2012 share of contracts with deferred payment terms (on average within six months) was18%.

-   Average unit prices were as follows: Pavlovo 2 (apartments USD 240 thousand, townhouses USD 540 thousand, cottages USD 1,340 thousand, plots USD 870 thousand); Pestovo (cottages USD 900 thousand, plots - USD 420 thousand); Pestovo Life (plots  USD 140 thousand); Martemyanovo (cottages USD 590 thous and, plots USD 300 thousand).

-   Total cash collected was USD 97.3 million.

 

Pavlovo 2

Pestovo

Martemyanovo

Pestovo Life

Total

Total unsold as of the end of 2012, units

46

60

43

67

216

Total signed during 6M 2012, units

52

15

24

8

99

Total signed for 2012, units

117

37

55

35

244

Contracted revenue during 6M 2012, USD ‘000

23,392

13,164

9,556

1,363

47,475

Contracted revenue for 2012, USD ‘000

54,666

27,886

21,366

5,004

108,921

Total cash collected in 2012, USD ‘000

51,988

21,069

20,632

3,636

97,326

Including contracted in 2012, USD ‘000

49,415

23,359

19,096

3,636

95,506

Established in 2002, JSC OPIN is one of the leading real estate development companies operating in Russia.

OPIN is focused on the development of master-planned multi-format residential communities and the operation of high-quality commercial properties in Moscow and the Moscow Region. Having completed nearly 200,000 sq. m of commercial space and 500 ha of out-of-town master-planned residential communities, today OPIN is a well-recognised brand in the domestic market, known for the market-leading quality of the projects it delivers. Through its property expertise and successful track record, the Company’s strategic goal is to become a platform for the consolidation of assets in the real estate industry in Russia.

The Company’s majority shareholder is ONEXIM HOLDINGS LIMITED, a major private investment group in the CIS region with a diversified portfolio of assets in mining, real estate, financial services, media, energy production and high-tech.