The firm says it will:

* Launch construction and start pre-sales in a number of development projects in St Petersburg including: 34 Deputatskaya, 5 Kovensky, Smolny Kvartal, Avrora, Vostok.

* Identify land plots in Moscow and Yekaterinburg for strategic land bank expansion; purchase selected land plots in St Petersburg subject to unique location and attractive prices.

* Complete the feasibility study on launch of new development projects in the Moscow region.

* Increase sales and marketing activity.

* Work with partner banks on increase of mortgage offering at company's development projects.

Chief executive Igor Levit said: "We believe that the lowest point of the economic recession is already in the past, and our main task now is to capitalize on opportunities from the real estate development and construction market recovery for further growth of our business.

"Even though there is still uncertainty about the recovery level and timing, we should be well-prepared, so that to fully use the opportunities of a new period in the economical cycle to develop our business and to further strengthen our market positions."

Story provided by Business Financial Newswire