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Construction company Etalon reported a rise in annual sales, underpinned by an increase in construction activity and rising propeorty prices.
For the 12 months ended 31 December 2021, new contract sales in monetary terms increased by 6% year-on-year reaching an all-time high of RUB 84.4 billion as the average price per square metre was RUB 189,000, up by 27% year-on-year.
The average price per sqm of apartments grew by 34% year-on-year to RUB 238,700.
'Most our FY 2021 sales - almost 30% of the record RUB 84.4 billion - took place in the fourth quarter,' the company said.
The results were 'driven by the launch of attractive new projects in the higher price segment, as well as strong demand for our current projects in Moscow and St Petersburg,' it added.
'In 2022, we intend to launch sales for three times as much space as the year before.'