Europe’s PIK enters PH market

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    Maiden project. From One Siera, PIK plans for long term expansion in the Philippines, building its landbank in key areas in Metro Manila.

    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.

    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. It cited Manila’s similarities with Moscow in terms of consumer demands and behavior as well as the urban environment were main factors considered by PIK in choosing a city to build in.

    PIK plans for long term expansion in the Philippines, building its landbank in key areas in Metro Manila.

    PIK subsidiary HDRP Group Corp. said it will introduce innovations to future developments that feature European aesthetic, quality and expertise.

    Maiden project One Sierra in Mandaluyong City targets the mid-high-end market.

    The project is a low-density residential building with 10 units per floor, totaling 250 units spread across 30-storeys starting on the fifth floor. This allows for greater privacy and better use of the building’s common amenities, which include a swimming pool and deck area, gym and wellness area, and function room.

    Buyers can choose from spacious studio, one-bedrooms, two-bedrooms, or small-office/ home-office units, all ranging from 32 to 84 square meters (sq.m.).

    Named for its location in Mandaluyong City, One Sierra is strategically located along EDSA highway, accessible to Metro Manila’s central business districts and main commercial areas.

    Headquartered in Moscow, PIK has over 25 years in the industry and 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 sq.m. as well as area under construction at seven million sq.m.