PIK Group is one of the leading residential developers in Russia, with a concentration in Moscow and the Moscow region and an increasing presence in many of Russia’s other regions. Acting as a vertically integrated developer, the company’s activities mainly focused on development of large residential projects and sales of completed units additionally comprise of production and assembly of concentrate panel housing as well as production and sales of raw materials. Since the beginning of 2004, the company has developed approximately 2.0m sqm of housing in Moscow, approximately 420,000 sqm of housing in the Moscow region and approximately 163,000 sqm of housing in other regions in Russia. During 2006 the company completed over 1.2m sqm of residential housing consisting of over 17,300 units. As of January 2007 the combined market value of PIK’s projects (land bank) amounts to US$ 8.8bn.
