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Brusnika (Russian: Брусника) is a Russian property development company. Established in 2004, it specialises in highrise housing. Headquartered in Yekaterinburg, its projects span Tyumen, Novosibirsk, Yekaterinburg, Surgut, Vidny, Kurgan, Krasnoobsk, Omsk, Moscow and Saint Petersburg.
 | |
| Company type | Private |
|---|---|
| Industry | Construction |
| Founded | 2004 |
| Headquarters | Russia, Yekaterinburg, Malysheva street, 51, office 37/05 |
Key people | Alexey Krukovsky Chairman |
| Revenue | 57,5 bn rub (2023).[1] |
| 7,6 bn rub (МСФО 2023)[1] | |
| Total assets | 175,600,000,000 Russian ruble (2023)  |
| Website | moskva |
Since its establishment, Brusnika has delivered two million square metres of housing[9], placing it among the top ten largest property development companies in Russia by the volume of current construction.[2]
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The company commenced operations in 2004 with the name "Partner-Invest", part of holding "Partner", which integrated several enterprises in Tyumen in the sphere of construction, production and commerce. In October 2015 the company was rebranded with the aim of unifying all the subsidiaries in 5 cities under a single name.[3][4] In Novosibirsk, for instance, the company operated as Sibakademstroy (with no change to the name of the local developer taken over in 2010).
Since 2005, the company has begun development activities and formation of a land bank. In 2010, the company launched the second project of the integrated development of the microdistrict "Yevropeyskiy" (eng. "European").[5] In 2011, Brusnika bought a "Sibacademstroy" company.[6]
In June 2018 in collaboration with Sberbank, the company pioneered project financing with escrow accounts.[7] The same year its national credit quality was evaluated as BBB+ (stable development forecast) according to Expert RA.[8]
In 2019 Brusnika was reorganised as a corporate company with subsidiaries in Yekaterinburg, Novosibirsk, Tyumen, Surgut and Moscow. It was granted the national credit rating at BBB+(RU) (stable development forecast) by ACRA and was rated among the top five developers in Russia according to Forbes.[9]
In 2020 the company issued its debut bonds on the Moscow Exchange, and was granted the status of a strategic developer in Russia and successfully retained its credit quality at BBB+. The same year, jointly with DOM.RF, the developer embarked on the first leased housing project in Yekaterinburg.[10]
In 2021 ACRA promoted Brusnika’s rating to A− (RU) with stable development forecast and rated its bonds at A− (RU).[11] The company has launched mobile manufacturing to develop residential area "Pshenitsa" (Eng. Wheat),[12] a new residential area in Novosibirsk and branched out into in-house production of aluminium-wooden windows in Yekaterinburg[13] This year the urban villa in the European Quarter of Tyumen was awarded an International BREEAM Awards 2021 prize in the category of Accommodation - Buildings at the Stage of Design.[14]
In this way in 2021 Brusnika issued two bonds on the Moscow Exchange for a total of 10 billion rubles. ACRA also rated all issues of the Brusnika’s bonds at A− (RU).[15]
In March 2022 ACRA confirmed the company’s status and its bonds at А-(RU) with stable development forecast too.[16]
In March 2023, Brusnika received an A− credit rating from ACRA and NKR. The rating forecast is stable.[17][18]
In February 2024, NCR and ACRA confirmed Brusnika’s credit rating as A-, with good viability prospects.[19]
In the summer of 2024, Brusnika opened sales and started constructing Dom A, the first project in the centre of Moscow located in the Danilovsky district (Southern Administrative Okrug), near the Paveletskaya metro station. In August, the company presented the Puppet Theatre project in the centre of Surgut. Additionally, it unveiled the plan to construct a new school complete with a kindergarten in MONS, the quarter it is building in the Butyrsky district of Moscow.
In June of 2024, Brusnika signed three strategic agreements. The first to form a joint venture with Gazprombank-Invest, enabling the company to accomplish projects in the new area of St Petersburg and Leningrad region, including integrated territorial development. The second agreement is with VTB to finance construction exceeding one million square metres in aggregate area for sale. The third agreement with Sberbank is to foster long-term cooperation on new ways of financing modern social and educational structures.
By the end of 2024, the company will have completed a public stadium and the largest district school in the framework of the First Quarter Estate project, Moscow region.
Scala, the European Riverbank parking complex, earned the gold medal of the 2023 Russian Academy of Architecture and Construction Sciences.
In May 2024, Scala received an honourable mention in the Architizer A+ Awards, an international architecture awards program. The River Port masterplan entered the shortlist for a reputable 2024 Italian Plan Award. Brusnika’s HQ in Yekaterinburg took first place in the Comfort and Ergonomics category of the 2024 Best Office Awards.[20]
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