19 Jan 2016 10:34
PIK Group sells its share in City Quarter project
(MOSCOW, January 19, 2016) - PIK Group (LSE: PIK), one of Russia's leading residential real estate developers, announces that it has sold its 100% share in City Quarter project, located in the center of Moscow.
The property is located on the land plot of 6.8 ha on Mantulinskaya Street and is currently occupied by the Krasnopresnensky sugar plant facilities. The City Quarter project was designed for development of elite residential housing and commercial premises.
The sale of the City Quarter project is in line with the Group's strategy to focus on development of affordable housing.
Proceeds from the sale were used for further debt reduction.
Enquiries:
PIK Group
Investors | Media |
Polina Kurshetsova | Natalia Mikhna |
Tel: +7 495 505 97 33 ext. 1315 | Tel: +7 (909) 913 14 70 |
E-mail: ir@pik.ru | E-mail: pressa@pik.ru |