20 Aug 2013 14:01
Press-release
PIK Group to build a multifunctional complex in the west of Moscow
Moscow, August 20 2013 - PIK Group, one of Russia's leading residential real estate developers, announces the acquisition of 100% of the shares of CJSC "Business park-Fili".
PIK will build a multifunctional 'business class' complex with a total area of 52,800 square meters of which the share of PIK Group is 74%. PIK's co-investor in the project is the investment development company Central Properties.
The land plot has an area of 2.352 ha and is located on the territory of a former industrial zone on Zarechnaya Street in the prestigious west part of Moscow in close proximity to the Moscow River.
The complex will have convenient social facilities and retail infrastructure, including stores, services, underground parking for 250 cars and recreational zones. The total area available for commercial premises is 3,800 sq m.
Project implementation will start in 2014. The acquisition is in line with management's strategy for maintaining the Group's land bank in the Moscow region through the acquisition of profit-making projects.
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About PIK Group
PIK Group is a leading Russian real estate developer, focusing on large-scale residential projects within the Moscow Metropolitan Area and selected Russian regions. Since its foundation in 1994, PIK-Group has become a market leader in mass market residential property sector completing over 200 000 apartments of affordable housing across the country. The Group has a substantial diversified land bank of net selling area of 6.5 million square meters and a dedicated professional team with over 11,000 employees. Given its brand recognition and the scale of its operations, in 2009 the Russian Government included PIK on the list of the nation's strategically important companies. For more information please visit: http://www.pik-group.com
Enquiries:
Investors
PIK Group Tel: +7 495 505 97 33 ext. 1358 / 1315
Viktor Szalkay
Media
Natalia Ivanova Tel: +7 495 505 97 33 ext. 1010 /1014
Citigate Dewe Rogerson Tel: +44 20 7638 9571
Tom Baldock
Priscilla Garcia