Business Real estate

History

2025: Etalon bought Business Real Estate from Sistema

The Etalon development group has agreed with AFK Sistema to acquire a 100% stake in Business Real Estate for ₽14,1 billion with payment through the placement of additional ordinary shares by open subscription. The transaction includes a portfolio of 42 land plots in Moscow and St. Petersburg intended for the construction of residential and commercial real estate of premium and business class. The conclusion of the agreement was announced by the press service of Etalon on August 28, 2025.

The acquisition will allow the group to become one of the largest Russian developers of premium residential real estate and strengthen its presence in the commercial real estate segment. Integration of Business Real Estate assets is planned for the period until the end of 2025 with the subsequent development of projects through the buyer's own structures.

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Фото: Freepik

The development potential of 18 priority projects, which the company plans to develop first of all, exceeds 200 thousand square meters. The expected revenue from the sale of these facilities by 2032 will amount to more than ₽185 billion, which significantly exceeds the cost of acquiring assets.

The remaining land plots are under development of urban development potential and can be included in the development program after obtaining the necessary permits. The final development parameters will be determined after the completion of the coordination procedures with the city authorities of Moscow and St. Petersburg.

Etalon plans to finance the transaction at the expense of funds raised as part of the placement of additional ordinary shares by open subscription. By the end of 2025, the developer intends to conduct an SPO to mobilize the necessary investment resources for the development of the acquired portfolio.^[1]

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