Founded in 1994, PIK Group is the largest listed residential developer in Russia with a track history of nearly 13 mln m2 of housing completed to date. The company specializes in economy-class housing and focuses on the Moscow Metropolitan Area, although it is also present in other regions of the country. It has projects with a total of over 6.5 mln m2 of net sellable area for development across geographies (70% in the Moscow Metropolitan Area and 30% in other regions). The company also has a land bank with potential to build another 3.0 mln m2 of housing, primarily in the regions, although development of these sites is not yet certain. The company has five production facilities with a total capacity to produce an equivalent of 1.3 mln m2 of housing per year, which are used not only for construction of its own projects, but also to provide construction services to third parties (11% of revenues in 2011). PIK Comfort provides facilities management in its newly constructed buildings – a growing business for the firm that already accounted for 12% of revenues in 2011.
PIK Group went public in June 2007, listing on local exchanges and the London Stock Exchange’s Main Market.