MOSCOW, October 15, 2020 — PIK Group, the leading Russian residential real estate developer, released today its trading update for the nine months ended September 30, 2020 (9M2020).
9M2020 key operational highlights:
- Value of new sales contracts to customers increased by 25.1% to RUB 208.7 billion (1 504 th sqm) compared to RUB 166.8 billion (1 368 th sqm) in 9M2019, including fee development business segment of RUB 23.9 billion (141 th sqm), up 123.6% compared to 9M2019.
- Total cash collections increased by 22.3% to RUB 228.0 billion, compared to RUB 186.5 billion in 9M2019.
— Cash collections from sale of real estate (including collections to the escrow accounts in the amount of RUB 36.8 billion) amounted to RUB 167.6 billion.
— Cash collections from construction services, fee-development and other operations amounted to RUB 60.4 billion.
- In 9M2020, PIK put on sale:
— 12 new projects in Moscow area — Akademika Pavlova, Amursky park, Bolshaya Akademicheskaya 85, Bolshaya Ochakovskaya 2, Businovsky park, Volokolamskoe, 24, Volgsky park, Krasnokazarmennaya 15, Rustaveli 14, Serednevsky les, Signalny 16 and Holland park compared to 2 new projects in 9M2019.
— 59 new buildings in Moscow area, Kaluga, Tyumen and Novorossiysk compared to 62 new buildings in 9M2019.
— Total area of buildings launched to the market amounted to 1 315 th sqm
- Completions amounted to 1 275 th sqm, up 6.1% (9M2019: 1 202 th sqm).
- Share of mortgage sales reached 77% in 9M2020.
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