Moscow, August 20 2013 – PIK Group, one of Russia’s leading residential real estate developers, announces the acquisition of 100% of the shares of CJSC “Business park-Fili”.
PIK will build a multifunctional ‘business class’ complex with a total area of 52,800 square meters of which the share of PIK Group is 74%. PIK’s co-investor in the project is the investment development company Central Properties.
The land plot has an area of 2.352 ha and is located on the territory of a former industrial zone on Zarechnaya Street in the prestigious west part of Moscow in close proximity to the Moscow River.
The complex will have convenient social facilities and retail infrastructure, including stores, services, underground parking for 250 cars and recreational zones. The total area available for commercial premises is 3,800 sq m.
Project implementation will start in 2014. The acquisition is in line with management’s strategy for maintaining the Group’s land bank in the Moscow region through the acquisition of profit-making projects.