History

Setl Group was recognized the biggest company in Russia by the volume commissioning in 2016: the total area of residential, commercial and social property commissioned for the year amounted to 1 million square meters, almost 190,000 square meters having been commissioned ahead of schedule.

Six kindergartens and 31 dwelling houses were commissioned, including 6 houses within the framework of the construction of the GREENlandia residential area, 2 houses in the Solnechny Gorod residential estate, 10 houses in the London quarter of the Seven Capitals RE, and two houses in the ZimaLeto RE. A number of construction projects have been completed: Моrе RE, Riverside RE, The House near the City Hall RE, The House in Kirochnaya RE, and The Residence RE. Six residential houses were built in Kaliningrad Region within the Leto RE, Olympia RE, Zolotiye Peski RE, Alpenpark RE, and Lake City RE.

Setl City and Setl City Kaliningrad started the construction of 34 new residential buildings. Among other projects, such large-scale projects as the low-rise Planetograd residential area in Moskovsky District of St. Petersburg, the Palazzio estate on Vasilyevsky Island and Petrovsky Estate on the Water on Petrovsky Island were launched.

Besides, the construction of a number of social facilities was started: a school and a kindergarten in the ZimaLeto RE, two kindergartens in the Clear Sky RE, one kindergarten in the Nevskiye Parusa RE, a school in the GREENlandia residential area and another kindergarten in the Solnechny Gorod RE. 

Setl City was recognized as the biggest developer of St. Petersburg and Leningrad Region by the planned commissioning volume according to a study conducted by the Kommersant Publishing House and the Academy of Real Estate.

According to the National Association of Housing Developers (NOZA), Setl Group ranked second among Russia’s major developers by the housing construction volume and was awarded the honorary  prize "Golden Sign of a Reliable Developer of Russia-2016".

The companies of the holding company confirmed their status as the leading players in the market of real estate under construction with the following awards: Petersburg Real Estate and Setl City won a double victory in the competition KAISSA-2016 in the nominations "The Best Company in the Market of Housing under Construction" and "The Best Development Project in the Market of Business-class Urban Real Estate" (Palazzio RE). Besides, Setl City was recognized as "The Best Company in the Field of Comfort-class Housing Construction" in the framework of the "Builder of the Year" competition. The Stockholm residential estate was awarded the "CREDO-2016" prize as the best business- and elite-class residential estate.

Setl Group commissioned more than 701,000 square meters of social and residential real estate, 87,000 square meters having been commissioned six months ahead of the construction schedule. 

The portfolio of Setl Group’s projects at all stages of implementation exceeded 6 million square meters. Thus, contracts were made for implementing the redevelopment project for the Palazzio  RE in Vasileostrovsky District of St. Petersburg and the low-rise Planetograd residential area in the Pulkovo Heights area.

The sales of Petersburg Real Estate in 2015 amounted to one third of the total volume of housing sales in St. Petersburg and the suburban area of Leningrad Region. By the end of the year, Petersburg Real Estate made 24,000 transactions in the primary market.

The construction of the third stage of the More residential estate, six buildings of the high-class multi-functional Riverside residential estate, three houses in the London quarter of the Seven Capitals residential estate and three houses within the GREENLANDIA residential area has been completed. In Kaliningrad Region, two houses in the Leto RE and one house in the Alpenpark RE were commissioned.

Setl City was one of the first developers to sign with the Government of St. Petersburg an Agreement on the Basic Principles of Conscientious Work in the Market of Housing Construction in the Period of Economic Instability.

In St. Petersburg, the construction of two new residential estates was started: Polustrovo Park RE in Kalininsky District and Moscow RE in Moskovsky District.

Ilya Yeremenko, CEO of Setl City, became a winner of the TOP-100 "Breakthrough of the Year" award from the Delovoy Peterburg newspaper.

Companies and projects of the holding company were awarded a number of prestigious prizes. The Setl Center business center won the Commercial Real Estate St. Petersburg Awards 2015 in the "Class B Business Center" category. Setl City became the prize-winner of the CREDO-2015 competition in the nomination "The Best Developer in the Market of Multistory Housing Construction." The Solnechny Gorod residential estate won the KAISSA-2015 competition in the nomination "The Best Project under Construction in the Urban Real Estate Market." Setl City was awarded a certificate of honor "For a Significant Contribution to the Development of the Social Infrastructure of Leningrad Region" from the Government of the Region.


Setl Group Holding Company is 20 Years Old! Setl Group’s history started in 1994 with housing construction. The company has been developing on a stage-by-stage basis, expanding the range of its own competence in all areas related to the real estate market. It is celebrating its anniversary as one of the major construction holding companies of the Northwestern region of Russia.
Maxim Shubarev
chairman of the board Setl Group
Dear colleagues and friends! For the 20 years of our active work, we have achieved a lot and are not going to stop. Our plans include the development of our targeted program, annual commissioning of at least 200,000 sq. m of real estate, and mastering new markets, including those of Moscow and the localities near Moscow. We are confident that our experience and responsible approach to work will make it possible for many more families to buy a house.

Setl Group is:

> 70 built residential houses;
> 1,000,000 commissioned sq. m of residential and commercial real estate;
> 130,000 families who have acquired own housing through us;
> 5,000,000 sq. m of real estate under design and construction in St. Petersburg, Leningrad Region, Kaliningrad and Kaliningrad Region;
the biggest broker in the market of new-built real estate of St. Petersburg and Leningrad Region;
the biggest real estate agency in the resale market of St. Petersburg;
the leading consultant in the industry and the only expert possessing data on the demand for St. Petersburg’s real estate since the year 1995;
one of the major suppliers of construction materials in the northwest of Russia;
the constant state partner in general contract services.

Setl Group has achieved record figures in commissioning volumes, 337,000 sq. m, one third of which were commissioned 5 months ahead of the time set forth in the project declaration.

As of the end of the year, Setl Group’s portfolio of projects reached 5,000,000 sq. m, 1,000,000 sq. m being at the stage of construction.

Maxim Shubarev, Setl Group’s Head, Chairman of the Board of Directors, was conferred the title of the Honoured Builder of the Russian Federation.

The St. Petersburg Realty Project Development Center, as a broker, sold 16,500 apartments, which makes 25% of the total volume of sales in the new construction market of St. Petersburg and the suburban area of Leningrad Region.

Setl City made a number of agreements with the Government of Leningrad Region as to building 13 kindergartens and 3 schools under its GREENLandiya and Seven Capitals projects in the framework of the Social Facilities in Exchange for Taxes program.

Setl City started the construction of the London Residential Estate, the second part of the Seven Capitals project, where 480,000 sq. m of real estate, 4 kindergartens and 1 school will be built.

Setl Group was recognized the winner of the St. Petersburg’s Best Construction Companies prize in the Noviye Metry 2013  (New Meters 2013) nomination in the framework of a competition organized by the Delovoy Petersburg newspaper.

The MORE residential estate (with Setl City as the developer and St. Petersburg Realty as the exclusive broker) won the Consumer’s Trust 2013 competition in the Best Implemented Residential Estate Project nomination.

In the KAISSA-2013 competition, St. Petersburg Realty won the first place in the nomination The Best Company in the Market of Housing under Construction, while Setl City became the winner in the nomination The Company That Has Implemented the Best Development Project with its high-class Riverside residential area.

Setl Group fully paid off its debut bonded loan in due time and completed for the first time the full circulation cycle of issued limited-life securities.

As of the end of the year, Setl City’s targeted program increased to approximately 2.5 million sq. m of real estate at various stages of implementation.

The companies of the holding commissioned sites 76,600 sq. m in total area, including Zolotiye Peski-2 residential estate (Svetlogorsk, Kaliningrad Oblast), Montreal RE (Krasnoselsky District, St. Petersburg), 1st stage of the Vienna estate (Kudrovo, Leningradskaya Oblast), Atlanta RE (Kondratyevsky pr., St. Petersburg).

Setl City made with CJSC Baltic Pearl contracts of sublease of 5 land plots over 165,000 sq. m in aggregate area in the territory of the residential estate of the same name situated in Krasnoselsky District of St. Petersburg. Thus, the company will erect about 285,000 sq. m of housing on land plots about 20 ha in total area in the Baltic Pearl.

Setl City started implementing a new integrated development project, GREENLandiya, in Vsevolozhsky District of Leningradskaya Oblast, in the framework of which about 400,000 sq. m of housing are to be built. Petersburg Real Estate is the exclusive broker of the project.

Setl Group and LSR Group have made an agreement of joint implementation of a project for the redevelopment of the industrial site at 9, pr. Energetikov in St. Petersburg. About 120,000 sq. m of housing will be built on the land plot about 105,000 sq. m in area.

The Setl City developer and builder company started the construction of and Praktis opened sales of spaces in the Setl Center class B business-center about 30,000 sq. m in total area in Moskovsky District of St. Petersburg.
Setl City started the construction of and Petersburg Real Estate opened sales in the Riverside mixed-use complex ( Primorsky District, St. Petersburg) and in the 2nd stage of the MORE residential estate (Krasnoselsky District, St. Petersburg).

Setl City Kaliningrad started the construction and opened sales in a number of sites in the town of Svetlogorsk, Kaliningradskaya Oblast: Zolotiye Peski-3 residential estate and the 2nd stage of the Alpenpark residential estate.
The ceremony of opening a new office of Petersburg Real Estate took place at 20, Kolomyazhsky pr. (Primorsky District of St. Petersburg).

Companies and projects of the holding won a number of prestigious awards. Thus, Setl City won the Consumer’s Trust 2012 competition in the nomination Construction Investment Company Deserving Consumers’ Trust. The Petersburg Real Estate agency became a finalist of the same competition in the nomination Real Estate Agency Deserving Consumers’ Trust and won the CREDO-2012 prize in the nomination The Best Realtor Organization in the Market of Country Real Estate. The Petersburg Real Estate Consulting Center was recognized the Expert of the Year in the market of real estate according to the Expert Severo-Zapad magazine. The Tokyo residential estate was recognized the winner of the Architecton review contest in the Best Building nomination. The MORE residential estate won the first place in the nomination The Best Integrated Development Project in the KAISSA-2012 competition.

The Expert RA rating agency increased the credit score of Setl Group from the B++ level (acceptable credit level) to the A level (high credit level). The forecast is positive.
Setl City acquired a land plot about 30 ha in area near Devyatkino (St. Petersburg), to the west of the Devyatkino metro station and to the north of the Ring Motorway, where it is planned to build about 380,000 sq. m of residential real estate.
Setl City started the construction, while Petersburg Real Estate started sales in a number of new residential complexes in St. Petersburg: RIO (Nevsky District), Atlanta 2 (Kalininsky District), MORE (Krasnoselsky District, the territory of the Baltic Pearl residential quarter), Marsel (Primorsky District).
Setl City started building the 2nd and 3rd stages of the Vienna residential quarter (Kudrovo, on the border with St. Petersburg). Besides, the construction of the Lake House business-class residential complex (Vyborgsky District, St. Petersburg) was completed.
Setl City Kaliningrad completed the transfer of 43 apartments in the Yuzhny Park (Southern Park) residential complex (Kaliningrad) to the Ministry of Defense under a state contract signed in November 2009.
Setl City Kaliningrad started the construction and opened sales in 3 projects: Prestige residential house (Kaliningrad), Alpenpark residential complex (Svetlogorsk, Kaliningrad Region) and Leto (Summer) residential complex (Svetlogorsk, Kaliningrad Region).
Petersburg Real Estate gained another victory in the nomination Realtor Agency Deserving Consumers’ Trust of the Consumer’s Trust 2011 competition.
The Lake House residential estate became a laureate of the 3rd Annual Prize in the area of residential city real estate, Urban Awards 2011, in the nomination Business-class Residential Estate of the Year, St. Petersburg.
The Seven Capitals project, in which the Vienna residential quarter is being built today, won the first place in the Best Developer Project nomination of the traditional 17th Annual Interregional Public Competition in the Field of Real Estate KAISSA 2011.
Setl City started the construction, while Petersburg Real Estate started sales in a new residential quarter Vienna situated near the intersection of the Ring Motorway and the Murmansk highway at the south-eastern border of St. Petersburg, not far from a biggest shopping mall MEGA Dybenko.
Setl City became a finalist of one of the most prestigious world’s competitions in real estate segment, FIABCI Prix d’Excellence.
Setl City completed the construction of a big construction unit in the north of the city: a 21-storey residential house near the Grazhdansky Prospekt metro station and started construction of the Montreal residential complex in Krasnoselsky District.
Petersburg Real Estate concluded an agreement of strategic partnership with the VTB 24 bank.
Petersburg Real Estate became the winner of the 4th annual WEB — Realtor — 2010 competition. The Association of Realtors of St. Petersburg and Leningrad Region were the organizer of the competition.
Petersburg Real Estate won in the Consumer’s Trust 2010 Public Competition. The company won the first place in the Realtor Agency nomination, having had outstripped 223 agencies by the number of votes.
Also Petersburg Real Estate became the winner of the traditional 16th Annual Interregional Public Competition in the Field of Real Estate KAISSA 2010. The company won in the nomination The Best Company in the Market of Housing under Construction.
Petersburg Real Estate and Setl City presented for the first time the project of a new residential quarter, Vienna, at the Real Estate Fair in the Peterburgsky Sports and Concert Complex.
Setl City and Setlprof became one of the first construction organizations in St. Petersburg that were admitted to perform construction works under the self-regulation mechanism.
Setl Group completed the construction of the Saimaa Lakeside villa community in Finland. In July the community greeted its first guests.
The consulting centre of Petersburg Real Estate prepared a development concept of a 24 ha land plot in the Petrodvorets District of the city.
The Expert RA rating agency increased the score of Setl Group Ltd. to the B++ level (acceptable reliability level).
Setl Group became the winner of Top 10 Housing Builders. The Gde Zhit’ (Where to Live) magazine (Delovoy Peterburg publishing house) was the organizer of the competition.
Setl City completed the construction of two big projects: Avangard 16-storey house in Kalininsky district and Yuzhnaya Korona comfortable-class residential complex. The company started the construction of a new business-class residential complex, Cosmos, in Moskovsky District and of a new comfort-class project, Tokyo, in Primorsky District.
Setl Group is implementing significant governmental contracts in Kaliningrad, Vladivostok, and Nevelsk (Sakhalin Region).
Setl Group implemented its first project in Finland, which is a villa community named Tahko Hills. The 10-house village is located on a three-hectare plot in the Tahko resort area, at the shore of Lake Syväri.
Northern Art Nouveau in Petrogradskaya, the elite residential house built by Setl City at 18 Podrezova Street in Petrogradsky District, became the winner of the The Link of Times competition organized by the Live City public movement.
Setl Group won the “Your Home Builder” project in the “Top Ten Elite Realty Builders” nomination. The project was organized by Gde Zhit’ (Where To Live), a magazine of the Delovoy Peterburg Publishing House.
The holding’s subsidiary - United Construction Trust - which operates in Kaliningrad was renamed into Setl City Kaliningrad. Thus, the company’s name was brought into compliance with the brand of its parent operating in St. Petersburg.
The Petersburg Real Estate company won the first prize in the “Consumer’s Trust 2008” public contest. The contest was initiated by the Consumers’ Society of St. Petersburg and Leningrad region.
Sberbank and the Setl Group holding announced signing of a contract for cooperation in mortgage crediting under the Mortgage Plus program. This is another project in the framework of a long-standing co-operation between the bank and a largest developer in the region.
The opening bonded loan of Setl Group for 1 billion roubles has been fully floated at the MICEX Stock Exchange. The demand for bonds in the course of the auction considerably exceeded 1 billion roubles, which once again confirms the high trust of investors in the company and shows the high degree of its reliability and stability. KPMG — one of the four biggest auditing companies — is the auditor of the holding company’s financial reporting according to the IFRS.
Setl City has started implementing one of its biggest projects in St. Petersburg for the construction of an A-class business block 150,000 sq. m in area in the Malaya Okhta district. The area of the company’s projects in various stages of preparation and implementation is about 2 million sq. m. (housing and commercial sites). Petersburg Real Estate and Praktis are the projects’ consultants.
Setl City won public tender for design and reconstruction of the Mikhailovskaya Dacha palace and park ensemble and for construction of buildings to accommodate the Higher Management School of St. Petersburg State University located at 109 Sankt-Peterburgskoye Shosse, Petrodvorets, St. Petersburg. Under the project, it is intended to reconstruct the existing buildings of the Mikhailovskaya Dacha palace and park ensemble, which are to accommodate the main educational building, office building, manager training center, and a research institute. It is also intended to erect new buildings and structures, such as a set of students’ hostels, a gym/recreational complex with a swimming pool, a domestic/utility building, a students’ cafe, and outdoor guest parking lots.
A decision was taken on the issue of a 1 billion roubles bonded loan by the Setl Group holding. The issue was planned for the second quarter of 2007. In the framework of preparation for bonded loan floatation, a restructuring of the holding company was held. Financial reports based on international standards were prepared.
New companies — Setl Estate (brokerage in regions), Setvill (construction of cottage settlements in the suburbs of St. Petersburg and Leningrad Oblast), Setl North Europe OY (construction of cottage settlements in Finland) and the Baltic Hypothecary Corporation (mortgage lending in the framework of the AIZhK (Agency for Housing Mortgage Lending) programme) established within the holding company started and continued their operations. The Petersburg Real Estate construction company, also a part of the Setl Group holding company, was given the new name of Setl City.
The holding company successfully implemented a regional development programme. Branches of brokerage divisions were opened in several cities of Russia (Kaliningrad, Veliky Novgorod, Yaroslavl, Murmansk, Arkhangelsk).
Vyacheslav Semenenko, Vice-President of the Petersburg Real Estate Corp., was elected the President of the Association of Realtors of St. Petersburg and Leningrad Oblast.
The company entered the country construction market. The first cottage settlement project was implemented in Vsevolozhsky District. Several projects were prepared in Kurortny district of St. Petersburg, as well as in Gatchinsky, Priozersky and Vsevolozhsky Districts of Leningrad Oblast. The company signed an agreement of cooperation with the biggest Finnish manufacturer of wooden houses, Honkatalot. The new company Honvill, a member of the holding company, acted as the official representative of Honkatalot in the Northwestern region and supplied complete sets of wooden houses for big investment projects and private developers.
The Praktis company was established within the holding company, which signed the first contracts of dwelling houses operation and provided a wide range of brokerage services in the commercial real estate market.
The head of the holding Maxim Shubarev was elected the President of the Association Construction and Industry Complex of the North-West.
The holding company was one of the first in St. Petersburg to start working in the field of comprehensive development of large areas. Government’s permission was obtained to prepare development concepts for two areas 21 and 32 ha in Primorsky District of St. Petersburg and Petrodvorets (near the Peterhoff palace and park ensemble).
LLC Avangard Multimedia Systems, an enterprise specializing in developing software and multimedia products, was established within the holding company. In the course of fruitful work in 2003-2004 the company won a stable position in the Russia’s market of computer technologies and established serious business relations both with domestic and big foreign customers.
As another developer project, the holding company acquires the Druzhba hotel for the purpose of subsequent renovation and sale. As a result of renovation, the hotel was transformed into a fashionable hotel complex Andersen Hotel of the three star class according to the international standards.
The holding company enters the real estate and construction market of Kaliningrad. A new company within the holding company — United Construction Trust — is registered in the city. The new company starts working on new projects — comfort-class residential complexes in a prestigious area of the city.
Petersburg Real Estate Corp. became the winner of the Professional Recognition competition in the nomination «The Best Brokerage Company of Russia». The company is the leader of the city’s real estate market by the number of real estate purchase and sale transactions.
The brokerage companies of the holding company started active development of a network of branches. The second office of the company was opened in the historical centre of the city. The plans for the near future included opening offices in Primorsky, Tsentralny and Vyborgsky districts.
A member of the holding company — the Petersburg Real Estate — became laureate of the Caissa public city competition in the field of real estate and won two awards «For Contribution to the Development of the Real Estate Market».
In 1998 against the background of the active enlargement of construction scope, the holding company started mastering a new promising area of operations — brokerage in the market of construction materials. For this purpose, the Investstroy company was founded. In due course the holding company confidently became a member of the group of the biggest regional suppliers, providing materials both to own sites and to scores of other construction sites of St. Petersburg.
The company made a new offer to participants of the market — professional brokerage services in the primary housing market. The Petersburg Real Estate Project Development Centre specializing in this area of activities was formed within the holding company.
At the same time, the holding company entered the commercial real estate segment. The first business centre of the holding company — 24, Obvodny — was acquired.
Petersburg Real Estate company becomes the leading expert of the real estate market of St. Petersburg. The company won a tender for holding a marketing research of the real estate market of St. Petersburg and developed a plan for housing sales in the framework of the Housing Project of the Russian Federation to the order of the City Administration and the International Bank for Reconstruction and Development (the land auction in Kamenka and Kolomyagi). In the same year, jointly with the Administration of the City, the company prepared a Programme for the Renovation of the Historical Centre of St. Petersburg and took part in creating a culture and recreation area on Petrovsky Island. The intensive construction activity of the holding company is continuing. New projects have been launched in Vyborgsky, Tsentralny amd Moskovsky districts.