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Petersburg Real Estate Corp. started its business 12 years ago by establishing an eponymous construction company in 1994. In the years that followed, the corporation consistently diversified into new real estate market sectors, establishing and incorporating professional firms specializing in different areas of business. Each new business line responded to immediate market needs, following or proactively anticipating the market trend.
Today, every member company within Petersburg Real Estate Corp. is a leader in its industry or market sector.
Originally, the business of Petersburg Real Estate Corp. was in new residential construction, which has remained the corporation's main activity since 1994, when Petersburg Real Estate Corp. Construction Company took over an unfinished building-society construction project disrupted by a sharp rise in inflation. The house, located at Belorusskaya ulitsa, was successfully delivered for occupancy 12 months later, spelling the beginning of a long, successful property development career for
Petersburg Real Estate Corp.
As a legal real estate market shaped up in St. Petersburg ca. 1995, the corporation launched a new business, Petersburg Real Estate Corp. Agency ZAO, which took only two years to flourish into the leading real estate brokerage in St. Petersburg.
In 1997, Petersburg Real Estate Corp. introduced the marketplace to a new service: professional sales of new housing-in-construction. Its newly incorporated member firm, Petersburg Real Estate Corp. Project Development Center OOO, is now the brokerage services flagship in St. Petersburg's new housing market.
Simultaneously, the corporation made an entry into the market of commercial real estate, setting up Petersburg Real Estate Corp. Management OOO and acquiring its first corporate center at 24 Obvodny Canal. The number of properties managed by Petersburg Real Estate Corp. has since multiplied by a factor of 10, currently exceeding 60,000 square m.
As the company's own construction business revved up in 1998, Petersburg Real Estate Corp. began to explore yet another promising business opportunity as a supplier of construction products.
Petersburg Real Estate Corp. has since reinvented itself as a major regional construction supplier, meeting the needs of both its own construction projects, and dozens of other building sites around St. Petersburg.
St. Petersburg 's investor appeal as a tourist magnet steadily increased, prompting Petersburg Real Estate Corp. to move into the hotel business. In 2003, the company purchased the second-rate Druzhba Hotel, and transformed it into a thriving three-star hotel complex named Andersen Hotel.
Realizing its great potential, it was only logical that Petersburg Real Estate Corp. should expand its business geography. In 2003, the company moved into the market of Kaliningrad, incorporating a local daughter named United Construction Trust OOO, and launching a local housing construction business.
In a bid to both maximize efficiency and explore new, forward-looking technology,
St. Petersburg Realty established Avangard Systems Multimedia OOO, a specialized software and multimedia developer. Following two years of dedicated effort in 2003 and 2004, Avangard Systems Multimedia attained a solid stature in Russia's computer technology market, having forged steady partnerships with both domestic and major international clients.
The company has received the approval from the Government for preparation of concepts of development of two territories (21 and 32 hectares) in Primorsky District of St. Petersburg and in Petrodvorets (near the palace-and-park ensemble Peterhof).
Two new offices were opened on Nevsky pr., building 41 and on Ispitateley street, building 6 within the program of development of the company's office network.
The company has entered into the market of country construction. The first project is the settlement consisting of 22 cottages and named "Fishing village". It is located in Vsevolozshsky district. In the near future it is planned to construct some cottage settlements in Kurortny District of St. Petersburg as well as in Gatchinsky district, Priozersky district and in Vsevolozhsky district of Leningrad region.
"The Facility Management" is a new business line established by the company in 2005. The company plans to render managerial services in inhabited and commercial objects.
Maxim Shubarev, the President of the company, was elected on the post of the President of the Construction and Industrial Department of the North-West Russian Association.
During the preparation course of issuance of bonds the re-structuring of Corporation was performed. The Setl Group, holding company (the head office of Petersburg Real Estate Corp.), acts as the emitter of release. The holding company began to prepare financial reporting under international standards, and therefore has received an additional publicity and transparency in financial and business society. Several new brands were created: "Praktis", "Honvill", "Setl Estate", and "Setl North Europe OY". Petersburg Real Estate Corp. Construction Company (entering into "Setl Group" holding company) is renamed in "Setl City".
The company acknowledges the program of regional development. There branches of broker divisions were opened in several Russian cities (Tomsk, Omsk, Novorossiysk, Yaroslavl, Murmansk), and the affiliated company is registered in Finland.
The Baltic Hypothecary Corporation (created by Petersburg Real Estate Corp.) has begun to work. The Baltic Hypothecary Corporation acts as the representative of two largest hypothecary operators in Russia - federal AHML and bank "TuranAlem" (Kazakhstan).
Vyacheslav Semenenko, the Vice-president of the Petersburg Real Estate Corp., was elected on the post of the President of Saint-Petersburg and Leningradskaya area Association of Realtors.
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