PIK launches sales for new project

PIK Group launches sales for a new residential project in the central Moscow

Moscow, July 18 2012 - PIK Group has launched sales for its new project in the central part of Moscow, residential complex Michurinsky. Located in one of the most prestigious and comfortable parts of Moscow's centre - near the Moscow river, the famous main building of Moscow State University, the popular Vorobyevy and Poklonnaya Hills recreation zones and the Moscow-City business district - the project is attracting a high level of interest from homebuyers.

Michurinsky is a modern complex of residential buildings, some of them already constructed and occupied. The complex has convenient social and retail infrastructure, including stores, services, parking and recreational zones, with kindergartens and schools to be built in the near future.

In 2012, PIK Group has started the construction of the following projects in Moscow: the large residential complex Grand Kuskovo near the Kuskovsky historical park, complex Mironovsky near the popular Izmaylovsky park, both located in the east, Michurinsky and Novo-Peredelkino residential complexes, located in the west, and a large-scale residential complex Buninsky, located in "new Moscow" area.

The Group launched sales in all the above-mentioned projects in 1H 2012, except Buninsky and Mironovsky, where it is planned that sales will start in 2H 2012.

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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 180 000 apartments of affordable housing across the country. The Group has a substantial diversified land bank of net selling area of 6.9 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