UNR Holdings Breaks Ground on Second Phase of Pushkin Development Project in
ORLANDO, Fla., March 5, 2013
ORLANDO, Fla., March 5, 2013 /PRNewswire/ --UNR Holdings, Inc. (OTCQB: UNRH),
(UNR), ("UNR" or the "Company"), a leading commercial and residential real
estate development and construction company operating principally in the city
of Moscow and its suburban communities, today announced that it has begun work
on Phase II of its Pushkin Development Project (the "Pushkin Development"),
located in the city of Bronnitsy. Total gross area of the completed
development is planned to be 277,700 square feet with a total living area of
263,715 square feet. The estimated completion date for this project is 2014.
"We believe that the Pushkin project represents an excellent value for
residential apartment purchasers who seek a comfortable and high quality
living environment in relatively close proximity to Moscow," said Alexey A.
Kim, Chief Executive Officer of UNR Holdings. "The project represents an
important component of our development portfolio with an expected solid return
on capital investment. We continue to execute the development of our existing
properties as well as identify prime real estate locations for future
development of exceptional residential and commercial projects."
The Company believes that the Pushkin Development is valued at more than $63
million based on a low end estimate of current real estate prices. Price per
square foot in the residential sector of Pushkin Development ranges from $200
to $250 per square foot.
To view the Pushkin Project and many other projects currently under
construction please click on this link,
About UNR Holdings, Inc.
UNR Holdings is a holding company that has a 68% ownership in its subsidiary,
494 UNR. 494 UNR is a diverse construction company with more than 40 years of
success serving the Russian construction market. The Company specializes in
general and infrastructure construction services, such as designing and
building multi-story apartment buildings for middle and upper middle class
families, office buildings, highways, bridges, and production of a road base
infrastructure construction product. While UNRH is involved in complex
construction projects, the Company also assists the Russian government with
infrastructure projects for oil and gas corporations, such as GAZPROM and
TRANSNEFT. 494 UNR is one of the oldest and most established construction
companies located and operating in Moscow and the Moscow area of the Russian
More detailed information on the housing projects is available at the UNR
Holdings corporate website: http://www.unrholdings.com.
The above news release contains forward-looking statements. The statements
contained in this document that are not statements of historical fact,
including but not limited to, statements identified by the use of terms such
as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope,"
"indicate," "intend," "likely," "may," "might," "plan," "potential,"
"project," "seek," "should," "will," "would," and other variations or negative
expressions of these terms, including statements related to expected market
trends and the Company's performance, are all "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995 and
involve a number of risks and uncertainties. These statements are based on
assumptions that management believes are reasonable based on currently
available information, and include statements regarding the intent, belief or
current expectations of the Company and its management. Prospective investors
are cautioned that any such forward-looking statements are not guarantees of
future performances, and are subject to a wide range of external factors,
uncertainties, business risks, and other risks identified in filings made by
the company with the Securities and Exchange Commission. Actual results may
differ materially from those indicated by such forward-looking statements. The
Company expressly disclaims any obligation or undertaking to update or revise
any forward-looking statement contained herein to reflect any change in the
company's expectations with regard thereto or any change in events, conditions
or circumstances upon which any statement is based.
UNR Holdings, Inc.
SOURCE UNR Holdings, Inc.
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