PIK, the largest homebuilder in Russia and Europe in terms of market capitalization among public homebuilders and 2020 area of construction, is set to expand its footprint to key markets in Asia, starting with the launch of its first real estate project in the Philippines.
With over 25 years in the industry, PIK, with its headquarters in Moscow, Russia, has built homes in major cities in Russia, giving about 500,000 households high-quality urban homes.
An active trader in the Moscow Stock Exchange, PIK has a market capitalization of $6.7 Billion and has gained $4.3 billion in revenue in 2019 alone. The homebuilder also leads in landbank with 11 million square meters as well as area under construction at seven million square meters.
Classified as a systemically important company for the Russian economy especially since it has proved to be resilient to ride out the pandemic, PIK plans for long-term expansion in the Philippines, building its landbank in key areas in Metro Manila.
PIK said the country was its main choice for expansion in Asia due to its favorable market conditions and its rising demand for quality homes.