Instead of a residential complex field: Setl Group acquired a large plot

Setl Group bought a plot that was previously classified as agricultural territory and will become residential.

The Setl Group company became the owner of 933 hectares in St. Petersburg in the Kamenka district. However, here’s an interesting nuance: the territory in Kamenka has agricultural status, but recently the city cabinet approved its development with housing.

The company told the publication that they bought the site for the future, and the specific parameters of the project will be clear after adjustments are made to the general plan.

According to the website, last year the Setl Group holding turned 28 years old. In 2022, it commissioned over 1.79 million square meters. m of total area (32 residential buildings in different areas of St. Petersburg, Kaliningrad and the region and 5 social facilities).

According to information from SPARK-Interfax, SETL GROUP LLC participated in 3 arbitration cases: in one as a defendant. The size of the authorized capital is 25,000,000.

Development expert Andrey Veresov suggests that the Setl Group deal was cash-free and involves the seller receiving 10–15% in the project. It is possible that 4 million square meters can be built on the site. m of comfort class housing, this may take 20–25 years.

Development Director of the construction company Basis-SPb Anton Ivanov notes that the city reluctantly approves the transfer of land with other functions for housing, and there are almost no prepared large plots in the city.

Let us remember that several years ago the company was at the center of a scandal.

We are talking about the construction of the Planetograd residential complex by Setl City on Pulkovo Heights.

The developer defended the right to implement the project in court.

The media then wrote that Setl began construction illegally and only subsequently received permission from the Pulkovo Observatory, located nearby.