Developer Glorax says plans to become public company by 2025

MOSCOW, Nov 15 (PRIME) -- Developer Glorax plans to become a public company by 2025 with capitalization of U.S. $1 billion, COO Dmitry Kashinsky said on Tuesday.

"By 2025, we plan to become a public company with a valuation of no less than $1 billion," the official said.

Glorax plans to commission about 500,000 square meters of real estate per year by 2025, while ongoing construction should stand at 1.5 million square meters.

According to Kashinsky, the company has a land bank of 4 million square meters in four regions and has 1.2 million square meters of ongoing projects.

End