MOSCOW, March 19, 2020 — PIK Group, the leading Russian residential real estate developer, released today its trading update for the twelve months ended December 31, 2019 (FY2019).
According to the appraising conducted by Cushman & Wakefield, the value of the portfolio of real estate and PIK enterprises, including intra-group loans, amounted to 607.76 billion rubles. The value of the company’s assets per share amounted to 920.16 rubles.
The assessment includes a land bank, an industrial unit, a general contracting business, resource businesses (maintenance of housing and networks), a brand and new technologies of the company.
As at December 31, 2019, the Group’s land bank amounted to approximately 11.1 million sq m (as of December 31, 2018 — amounted to 10.9 million sq m). The value of the project portfolio increased by 58% and amounted to 426.5 billion rubles (in 2018 — 269.5 billion rubles). The cost of project portfolio per square meter increased by 54% and amounted to 38.2 thousand rubles (in 2018 — 24.8 thousand rubles).
As of this date, according to the results of the assessment, PIK is rated significantly higher than its peers, which once again confirms its leading position in the market.
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PIK has been operating in the market since 1994 and specializes in sales of affordable housing. Since its inception, the company has built about 23 million sqm of residential real estate. Since 2007, PIK is present on the stock market. The company adheres to best international standards of corporate governance. By the decisions of the Government of the Russian Federation PIK is included in the list of strategic enterprises of the Russian economy.