Land Acquisition

Land Acquisition

PIK Group to develop a residential project with sport facilities in Odintsovsky district of Moscow region

Moscow, October 23, 2013 - PIK Group, one of Russia's leading residential real estate developers, announces the acquisition of a 100% share of LLC "Zarechye-Sport" for the construction of a new residential microdistrict.

The land plot has an area of 20 ha and is located within 2 km of the Moscow Ring Road, in the Zarechye area of Odintsovsky district, a prestigious central part of Moscow Region.

The project assumes construction of a 70,000 square meter business class residential development with sport facilities and infrastructure including a kindergarten for 90 children, parking for 950 cars and commercial premises.

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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 2008 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