MOSCOW, March 18, 2021 — PIK Group, the leading Russian residential real estate developer, announces the result of the Company’s assets valuation as of December 31, 2020.
According to the appraising conducted by Cushman & Wakefield, the value of the portfolio of real estate and PIK enterprises, including intra-group loans, amounted to 916.69 billion rubles. The value of the company’s assets per share amounted to 1 387.89 rubles.
The assessment includes a land bank, an industrial unit, a general contracting business, resource businesses (maintenance of housing and networks), a brand and new technologies of the company.
As of December 31, 2020, the Group’s land bank increased by 49% and amounted to approximately 16.5 million sqm (as of December 31, 2019 — 11.1 million sqm). The value of the project portfolio increased by 60% and amounted to 683.0 billion rubles (in 2019 — 426.5 billion rubles).
According to the results of the assessment, PIK's assets are valued significantly higher than its peers, which once again confirms its leading position in the market.
Investors: Polina Kurshetsova, Tel: +7 495 505 97 33 ext. 3785, E-mail: [email protected]
Media: E-mail: [email protected]
PIK has been operating in the market since 1994 and specializes in sales of affordable housing. Since its inception, the company has built about 23 million sqm of residential real estate. Since 2007, PIK is present on the stock market. The company adheres to best international standards of corporate governance. By the decisions of the Government of the Russian Federation PIK is included in the list of strategic enterprises of the Russian economy.