Morton Group

MORTON group conducts the history since 1994.

By 1997 the main specialization of the company - construction and sale of the residential real estate in Moscow and the Moscow region is defined. A number of projects where MORETON Group acts as the investor builder is developed.

In 2000 MORETON Group begins to develop as the builder of residential districts of mass housing with own infrastructure, development of platforms of large-scale building is conducted. In a year in Shchyolkovo the project of the residential complex "On Proletarian" starts, and in 2004 the company begins construction of quarter "Bear lakes". In parallel in 2005 in Balashikha large-scale construction of the residential district "May 1" begins, and in two years the first stage of panel built houses is handed already over to state commission.

In March, 2007 the following large project – the residential district "Shchitnikovo" in Balashikha started. In the fall of 2008 – the residential district "Katyushki" in Lobnya.

Today MORETON Group is one of the leading investors builders of the Shchyolkovo district and Balashikha. For the last 2 years more than 350,000 sq.m. C of the end of 2009 are put into operation here commissioning of 400,000 more sq.m. in Balashikha and Railway began.

In 15 years of work in the market of qualitative mass housing Moreton Group proved as the responsible builder having sufficient experience and high potential for the embodiment of projects of any complexity.

Now MORETON Group as the investor builder implements 7 projects of complex building of residential districts with a total area more than 1 million sq.m in three cities situated near Moscow – Balashikha, Railway, Lobnya. Development of prospective sites is in parallel conducted, the geography of projects extends.

Today Moreton Group implements large projects:

• residential district "Solntsevo Park", Leninsky district, r/s Vnukovo,
  * LDC Malachite, item Malakhovka, Lyubertsy district,
  * residential district "May 1", Balashikha,
  * residential district "Shchitnikovo", Balashikha, item. East,
  * residential district "Pearl of Balashikha", Balashikha, Zelyonaya St.,
  * residential district "Katyushki", Lobnya,
  * the residential district "Southern Kuchino" and the residential complex on Yubileynaya St. in. Railway.
  

History

2016: PIK Group received all assets Moreton

PIK Group purchased developer "Moreton" at structure of the co-owner and the president Sergey Gordeev. Gordeev told journalists about it, Interfax reports. The businessman did not disclose transaction amount, however explained that Moreton is sold for the same money that it was purchased. The transaction is financed by own means of PIK Group and the investments involved through the last placement of bonds.

Moreton Group as such will leave the market, the most part of assets and projects is integrated into structure of the new owner. "Strategically we want that there was one brand, and it will be the PIK brand", - Gordeev noted. Process of integration will take about six months, legal procedures in connection with change of the owner - two months.

Revenue of the united company can make 190 billion rubles a year, the president of PIK Group said. Volumes of construction of housing by new structure will be 1.8 million sq.m a year, the land bank will reach 10 mln sq.m. "We want to become the leader not only in market capitalization, but also in operational results", - Gordeev told. He estimated a market share of the new company at 20% and added that there are no plans to considerably increase it. At the same time, however, PIK Group will increase the presence in regions, the co-owner of the developer promised.

In the course of integration a part of assets of Moreton will offer for sale, and activity of the new company seriously optimizes. In particular, an administrative and other expenses will be cut down for the amount to 10 billion rubles a year. Actually it means that the essential share of current staff of Moreton with high probability will be dismissed.

Already also its former president Alexander Ruchyev left the company, Gordeev added. Ruchyev can help in the rank of the adviser if like that is required during integration, he explained. Earlier there was information that the former president Moreton will participate in operational management by the company until the end of the year.

2014: SU-155" demanded to declare bankrupt structure of the Moreton group

One of the largest builders of housing in Russia - SU-155 Ltd - submitted the application for recognition by the bankrupt of structure of the Moreton group of Moreton-RSO LLC to Arbitration court of Moscow, report RIA Novosti. As explained to the agency in the press service of "SU-155", the statement is connected with one of lawsuits between the companies, the solution on which became effective, however is not performed yet. ^[1].

"The attempt to settle our legal requirements peacefully, unfortunately, does not make success yet. It forced us to submit at this stage the application for recognition of Moreton-RSO LLC insolvent", - the representative of "SU-155" noted.

In the Moreton group this claim was called "the next attempt of manipulation". The company specified that filing of application about bankruptcy is method of impact on Moreton-RSO LLC for the purpose of the fastest execution of the court ruling on which the writ of appeal is filed at the moment.

Houses in the 30th residential district of Balashikha where Moreton within the state order built the real estate for the Ministry of Defence became a reason for a dispute between the largest Russian builders of apartment housing, and the SU-155 company performed functions of the contractor. The total cost of the contract assuming construction of 470 thousand sq.m of housing for military reached 17 billion rubles.

The former partners began to have legal proceedings in 2013. In materials of court it is said that "SU-155" performed work on 2.18 billion rubles, having confirmed it with acts of acceptance of works. However into the account of the company not all money because of what it was forced to take legal action arrived. In reply Moreton made the counter claim for the total amount about 1.6 billion rubles, having motivated it with the fact that "SU-155" broke the works agreement, having broken construction terms.

As a result of the requirement of "SU-155" were satisfied of more than 224 million rubles. In June of the current year the court partially satisfied also the claim of the Moreton group, having exacted 450 million rubles from "SU-155", however at the beginning of October the resolution cancelled this solution.