PIK.L Regulatory News (PIK)

PIK group wins a tender for multipurpose development on the former territory of VDNH

Moscow, May 19, 2015 - PIK Group (LSE: PIK), one of the leading Russian residential developers, announces that it has won a tender for multipurpose development on the former industrial territory of VDNH.

The land plot, formerly an industrial area of VDNH, has an area of 34 ha and is located in the north of Moscow.

Residential development envisages the construction of around 650,000 square meters, comprising 500,000 square meters of housing and 150,000 square meters of the accompanying social infrastructure of kindergartens, schools, a clinic, car parks and a church.

After the coordination with the Moscow Government, PIK Group will sign the contract and begin developing a master plan.

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