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ER - JSC Open Investments: announces sales results for 9 months 2012

Company: INGRAD Date: 2012-10-15 Language: English Register to download

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 News Details

Corporate | 15 October 2012 07:00

#   

JSC Open Investments: announces sales results for 9 months 2012

  

JSC Open Investments / Key word(s): Sales Result/Sales Result  

  

15.10.2012 / 07:00  

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*THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA*

**JSC OPIN**

**ANNOUNCES SALES RESULTS FOR NINE MONTHS 2012**

(15 October 2012) Joint Stock Company ‘Open Investments’ (JSC ‘OPIN’ or the ‘Company’) (BLOOMBERG: MICEX – OPIN.RM), the first publicly traded real estate developer in Russia, today announces sales results for the nine months 2012 in its key development projects Pavlovo 2, Pestovo, Martemyanovo and a new project Pestovo Life.

– For nine months 2012 the Company signed 178 contracts all totalling US$79.4 million. Out of total contracted revenue Pavlovo 2 brought US$41.4 million, Pestovo US$20.7 million and Martemyanovo US$15.6 million. US$1.9 million of revenue came from the sales of land plots in the new Pestovo Life community.

– During the first nine months the Company signed 35 mortgage contracts totalling US$17.3 million, which represented 22% of 9M 2012 deals.

– Average unit prices were as follows: Pavlovo 2 (apartments – US$240 thousand, townhouses – US$540 thousand, cottages – US$1,450 thousand, plots – US$870 thousand); Pestovo (cottages – US$910 thousand, plots – US$480 thousand); Pestovo Life (plots – US$160 thousand); Martemyanovo (cottages – US$610 thousand, plots – US$300 thousand)

– Total cash collected was US$69.4 million.

|     |     |     |     |     |     |
| --- | --- | --- | --- | --- | --- |
|     | **Pavlovo 2** | **Pestovo** | **Martemyanovo** | **Pestovo Life** | **Total** |
| Total signed in Q3 2012, units | 49  | 11  | 17  | 4   | **81** |
| Total signed during 9 months 2012, units | 99  | 26  | 41  | 12  | **178** |
| Contracted revenue in Q3 2012, US$’000 | 18,495 | 7,398 | 6,017 | 540 | **32,450** |
| Contracted revenue for 9 months 2012, US$’000 | 41,356 | 20,652 | 15,573 | 1,902 | **79,393** |
| Total cash collected in 2012, US$’000 | 38,421 | 13,404 | 16,250 | 1,290 | **69,366** |
| Including contracted in 2012, US$’000 | 35,475 | 15,212 | 14,710 | 1,290 | **66,686** |

  

For further information, please contact:

*Investors:*  

Stanislav Joukov +7 495 363 2211 ext. 2388

**About OPIN**

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 developed master-planned 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 Ltd, 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.

In November 2004 OPIN was successfully admitted to the RTS stock exchange and since then has carried out six secondary public offerings, raising nearly US$2 billion.

Further details can be found on the OPIN website at www.opin.ru

  

  

End of Corporate News  

  

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15.10.2012 Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC – a company of EquityStory AG.  

The issuer is solely responsible for the content of this announcement.  

  

EquityStory.RS, LLC’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.  

Media archive at www.dgap-medientreff.de and www.dgap.de  

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|     |     |
| --- | --- |
| Language: | English |
| Company: | JSC Open Investments |
|     | Tverskoy blvr, 13/1 |
|     | 123104 Moscow |
|     | Russia |
| Phone: | \+ 7 495 363 22 11 |
| E-mail: | info@opin.ru |
| Internet: | www.opin.ru |
| ISIN: | RU000A0DJ9B4 |
|     |     |     |

|     |     |
| --- | --- |
|     |     |
| End of News | EquityStory.RS, LLC News-Service |

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| --- |
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| 188635  15.10.2012 |

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