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 7 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 disclosed that the country was its main choice for expansion in Asia due to its favorable market conditions and its rising demand for quality homes. Additionally, 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.
Locally, HDRP Group Corp., subsidiary of the PIK, promises to deliver outstanding innovations to future developments, allowing Filipinos to enjoy upmarket, high-quality urban environments that resonate distinctively European aesthetic, quality, and expertise. The homebuilder aims to start its expansion and showcase its expertise by pushing forward with its maiden project in the country, One Sierra in Mandaluyong City.
A combined effort of an international team of experts and designers, One Sierra is aimed toward the mid-high-end market with a keen eye for quality. The project is a low-density residential building with only 10 units per floor, totaling just 250 units spread across 30-stories 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 bedroom, two bedrooms, or small-office/home-office (SOHO) units, all ranging from 32 to 84 sq m.
Named for its location amid Mandaluyong City, One Sierra is strategically located along Edsa highway, accessible to Metro Manila’s Central Business Districts and main commercial areas.
For more information about One Sierra, please visit https://one-sierra.com.