ORLANDO, Fla., April 9, 2013 /PRNewswire/ -- UNR Holdings, Inc. (OTCQB: UNRH), today announced that its Russian operating subsidiary, 494 UNR, a leading commercial and residential real estate developer and construction contractor, operating principally in the city of Moscow and its suburban communities, has begun construction of a new multi-family development project in the city of Nemchinovka, the administrative center of the prestigious Odintsovsky District, which borders Moscow on the west.
Land in the Odintsovsky District is some of the most valuable in the Moscow suburbs. The project includes a 17 story, 10 sections building with 667 apartments and a total area near 400,000 square feet. Selling prices per square foot in that market are between US$250 and US$350.
Gross project revenue to 494 UNR is expected to be over US$100 million. The anticipated completion date is in the second quarter of 2014.
To view projects currently under construction by 494 UNR, please use the following link: http://unrholdings.com/en/projects.htmlAbout UNR Holdings, Inc. UNR Holdings is a U.S. corporation with a 68% controlling interest in its Russian operating subsidiary, 494 UNR. 494 UNR is a diverse development and construction company with many years of success serving the greater Moscow area. 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 and bridges. It also produces and supplies a patented road-base and slope-stabilizing infrastructure construction material. While 494 UNR is involved in complex construction projects, it 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 the greater Moscow area, which now encompasses over 950 square miles. More detailed information about company projects is available at the UNR Holdings, Inc. corporate website: http://www.unrholdings.com. Forward-Looking Statements 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 UNR Holding'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. UNR Holdings, Inc. 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.
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