Glorax Development invests RUB 4 bln in Saint Petersburg residential compound

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Glorax Development invests RUB 4 bln in Saint Petersburg residential compound
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Moscow company, Glorax Development, will invest 4 bln roubles in erecting of two residential compounds in the Russian city of Saint Petersburg.




Moscow company, Glorax Development, will invest 4 bln roubles in erecting of two residential compounds in the Russian city of Saint Petersburg. The new buildings will appear in the place of the unfinished housing construction projects in the Frunzensky and Kalininsky districts.
This is what the company's managing partner, Dmitry Konovalov, told Interfax on Friday.
“At present, a dismantling work of the existing structures is underway”, - specified Mr Konovalov. He added that the total area of new projects will be over 53,000 sq.m.
As a reference, the company is a part of Glorax Group and was founded in 2014. It is specialized in construction of residential compounds, commercial real estate, as well as objects of social infrastructure.



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