Letter from the President of INTECO

Alexander Nikolaev
colleagues and partners!

2021 was a period of transition when the construction industry started to adjust to a rapidly changing macroeconomic environment. Under the circumstances, industry players had to invest even more time, effort, money, and resources to maintain their operations and develop the competencies needed to succeed in the new reality. Today, we can state with confidence that INTECO has successfully coped with all challenges facing the Company last year. While at times painful, the transformation process helped us gain valuable experience, knowledge and skills, create new opportunities, and optimise resources. We have become more professional, more flexible and more resilient.

This growth in quality produced significant improvement in the Company’s results. In the reporting period, INTECO commissioned over 280 thousand sqm of real estate, twice as much as in 2020. This includes a total of 169 thousand sqm of property in Moscow and 112 thousand sqm of housing in the Rostov Region.

Top places in prestigious rankings is evidence to our strategy’s success. INTECO was Russia’s third largest developer of elite-class housing in 2021, according to the Forbes magazine. Metrium real estate agency ranked the Company in the Top 10 list of developers in terms of sales within the "old Moscow" area in the first half of 2021.

Industry experts have praised the high quality of INTECO real estate. The West Garden business-class residential development in the Ramenki District was ranked the highest among Moscow’s Top 8 housing complexes with the largest yards. Westerdam, a residential project in the Ochakovo-Matveevskoye District was included in the Top 10 most conceptually thought out complexes.

INTECO continues to implement its investment programme, preparing to launch new projects. The elite-class Ilyinka, 3/8 complex to be built near the Kremlin was highly recognised by experts at the VI International denkmal, Russia — Moscow Specialized Exhibition dedicated to the preservation, restoration, use, and promotion of cultural heritage, redevelopment and museum technologies. In 2021, we announced a flagship premium-class residential project in the Presnensky District, which will cap the district’s comprehensive development programme and reflect the Company’s years of experience building and selling elite real estate.

Supporting public values is essential for any socially responsible business. We see our mission in creating ideal housing for all people living in our residential complexes, regardless of age. INTECO has developed Playgrounds of the Future: a Neurodynamic Approach — a research-based methodology for creating and equipping playgrounds to support physical and cognitive development children. It was designed by INTECO together with experts of the children’s neurological centre Prognoz (St Petersburg) and architecture firms Druzhba and Chekharda.

The West Garden eco project will be the first in Russia to feature such playgrounds. Uniformly designed, these innovative spaces could be used by other housing industry players.

At INTECO, we place major emphasis on making public areas culturally attractive. Today, modern sculptural compositions increasingly emerge as centres of gravity for the city’s squares and parks, imparting them a new identity and generating public debates. We have assembled the largest corporate XXL collection, with many of its exhibits installed in Moscow’s public areas. In summer 2021, the Company presented the collection at the GUM-Red-Line Gallery festival featuring Red Garden, an exhibition of the Russian public. The event was held as part of the Chereshnevy Les open arts festival. The exhibits are works of renowned Russian artists representing their reflections on important social topics.

INTECO’s achievements in 2021 are a result of the professional expertise and hard work of each and every one of our employees. Our dedicated and united team of specialists is the Company’s key asset, helping it to promptly implement major business initiatives and undertakings. Today, we are confident about our future and well prepared for any potential challenges.

Alexander Nikolaev

President of INTECO