13 Dec 2010 09:08
THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND
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INDIRECTLY IN THE UNITED STATES OF AMERICA
PIK GROUP ("The Group" or "PIK")
PIK ACTIVELY LAUNCHES NEW PROPERTIES FOR SALE
(LONDON, December 13 2010) - PIK Group (LSE: PIK), one of Russia's leading residential real estate developers, is pleased to provide an update on new development sales. Since early June 2010, PIK has launched new (pre)-sales at 25 properties, including 19 in the Moscow Metropolitan area (see summary below).
The scale of new launches has been accelerating since September 2010, since when PIK has launched apartment sales at 17 properties.
In particular, on December 06, 2010, we launched pre-sales for three buildings in Moscow, which are located at two new residential developments, called "Anninsky" and "Chertanovsky".
These developments are located in the South Chertanovo area of Moscow, within walking distance from "Annino" and "Ak.Yangelya" underground stations and next to the Anninsky and Bicevsky forest parks.
Pre-sales launches summary (early June - early December 2010)(1)
Project | Location | Type | Start of sales | Total NSA(2), '000 sqm | NSA (PIK share), '000 sqm |
English Town | Moscow | High-end | 101 | 70 | |
- bldg 1A | Sept-2010 | ||||
- bldg 1B | Nov-2010 | ||||
Kolomenskaya Emb. | Moscow | Mass-market | 8 | 6 | |
- bldg 22 | Sept-2010 | ||||
Mikhlukho-Maklaya Str. | Moscow | Mass-market | 36 | 14 | |
- bldg 6 (2nd phase) | Aug-2010 | ||||
Krasnogo Mayaka Str. | Moscow | Mass-market | 49 | 35 | |
- bldg 1-2 | Sept-2010 | ||||
- bldg 3 | Jun-2010 | ||||
Zapovednaya Str. | Moscow | Mass-market | 86 | 59 | |
- bldg 9 | Jun-2010 | ||||
South Chertanovo, mcr.17, 18 | Moscow | Mass-market | 134 | 89 | |
- "Anninsky", bldg. 1 | Dec-2010 | ||||
- "Anninsky", bldg. 2 | Dec-2010 | ||||
- "Chertanovsky", bldg. 40B | Dec-2010 | ||||
Pykhtino, "Solncevo-Park" | Moscow region | Mass-market | 40 | 21 | |
- bldg 10 | Nov-2010 | ||||
Khimki, "Ubileiniy" | Moscow region | Mass-market | 293 | 216 | |
- bldg 7B | Nov-2010 | ||||
Khimki, "Novokurkino" | Moscow region | Mass-market | 836 | 835 | |
- bldg 20A | Oct-2010 | ||||
- bldg 21 | Jul-2010 | ||||
- bldg 21A | Jun-2010 | ||||
Mytishi, "Yaroslavsky" | Moscow region | Mass-market | 1,154 | 838 | |
- bldg 5 | Sept-2010 | ||||
Lubertcy, "Krasnaya Gorka" | Moscow region | Mass-market | 731 | 371 | |
- bldg 20 | Jun-2010 | ||||
Mytischi, 3rd Krestyanskaya Str. | Moscow region | Mass-market | 43 | 43 | |
- bldg 60-62 | Oct-2010 | ||||
Khimki, "Sovkhoznaya str." | Moscow region | Mass-market | 406 | 328 | |
-bldg 12 | Aug-2010 | ||||
Obninsk, mcr.38 | Russia's Regions(3) | Mass-market | 82 | 82 | |
- bldg 9 | Dec-2010 | ||||
- bldg 11 | Jul-2010 | ||||
N.Novgorod, "Volzjskye Ogni" | Russia's regions
| Mass-market | 107 | 101 | |
- bldg B | Nov-2010 | ||||
Perm, mcr. Iva | Russia's regions | Mass-market | 118 | 118 | |
- "Griboedovsky", bldg 35 | Oct-2010 | ||||
Yaroslavl | Russia's regions | Mass-market | 198 | 179 | |
- "Bragino", 7a microdistrict, bldg 13 | Oct-2010 | ||||
- mcr. Sokol, Frunze avenue, bldg 6 | Nov-2010 |
Note:
(1) The above summary excludes pre-sales launches of parkings
(2) NSA - net selling area
(3) In Russia's regions PIK mostly launched (pre)-sales on projects reactivated in 2010
Source: Management accounts, CBRE as of July 01 2010
In line with the Group's current strategy, PIK intends to unlock further new properties (addresses) for sale, mainly across its core market of the Moscow metropolitan area. Since the beginning of 2010, PIK has also seen clear signs of the market recovering in Russia's regions and the Group is currently scrutinizing different opportunities to re-start its regional operations.
Enquiries:
Investors
PIK Group Tel: +7 495 505 97 33 ext. 1315/1358
Viktor Szalkay
International media
Citigate Dewe Rogerson Tel: +44 20 7638 9571
Tom Baldock
Priscilla Garcia
Russian media
Dmitry Ivliev Tel: +7 495 505 97 33 ext. 1010/1028