London, April 23 2012 - PIK Group, a leading Russian real estate developer focusing on large-scale residential projects within the Moscow Metropolitan Area and selected regions in Russia, today announces that it has completed the sale of a land plot in Korolyov, Moscow Region. The sale to Globus, a large private German retailer, was agreed at a price of 755 million rubles.
Located on a former industrial area in Korolyov, the land totals 11.2 hectare where Globus is planning to build a hypermarket.
Globus is a private German international retail chain. The company has hypermarkets in Germany, Czech Republic and Russia. Currently, Globus is actively developing its presence in Russia with 5 hypermarkets in different cities.
Commenting, Artem Eyramdzhants, First Vice President of PIK Group said:
"We are pleased to have concluded the sale of this non-core project, which is not included in the Group's balance sheet land bank valuation. Its disposal is in line with the company's strategy to consider selling projects that are not a priority for its own development."
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 over 10 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:
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PIK Group |
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Investors Viktor Szalkay |
Tel: +7 495 505 97 33 ext. 1358 /1315 |
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Media Natalia Ivanova |
Tel: +7 495 505 97 33 ext. 1010/1014 |