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13 сентября 2011
PIK reports growing portfolio valuation
(LONDON, 13 September 2011) - PIK Group (LSE: PIK), one of leading Russian residential real estate developers, today announces the results of a revaluation of its properties, conducted by the independent appraiser CB Richard Ellis as of June 30 2011.
Key highlights
- Total net selling area(1) amounted to approximately to 10.1mn square meters (10.6mn as of December 31 2010), of which 99% is represented by residential space;
- Market portfolio value per square meter increased by 18.5% to US$269 (December 31 2010: US$227) due to growing market values of underlying projects in Moscow metropolitan area;
- PIK’s top10 key projects accounted for 65.8% of total market value (December 31 2010: 64.2%)
- The total market value of PIK’s property portfolio showed a 12.5% increase to US$2.7bn (December 31 2010: US$2.4bn);
- Market portfolio value per share grew to $5.5 (December 31 2010: US$4.9)
Note: (1) Net selling area = unsold area
For a full version see PDF attached:
