As part of its plan to expand in Asia, Russian homebuilder PIK has entered the online real estate market in the Philippines by listing its maiden property offering on digital property platform Lamudi.
One Sierra, the company’s first development project in the Philippines, will bring 250 high-quality units spread across 30 floors.
“With only 10 units per storey, residents will enjoy unparalleled exclusivity. Geared towards privacy and wellness, it will feature amenities including a swimming pool and deck area, gym and wellness area, and a function room,” the company said.
“This low-density condominium also reflects the needs of the Philippine market given the ongoing lockdowns that have paved the way for a work-from-home setup.”
The company said One Sierra also offers flexible premium spaces like small office/home office or SOHO units. Sizes range from 32 square meters (sq m) to 84 sqm.
PIK said its partnership with Lamudi “brings together two companies known for revolutionizing the real estate sector.”
The two companies have embraced digital-first strategies amid the health crisis. As early as 2019, PIK has already switched 100 percent of its sales online—the first to successfully implement this in Europe.
Meanwhile, Lamudi pivoted to virtual events in early 2020 to address the difficulties faced by stakeholders in the buying, selling and renting landscape.
“PIK brings its thoughtful attention to detail, cutting-edge technology and rich experience to the Philippine market, with Lamudi as its chosen platform with up to seven million monthly pageviews from local and overseas property seekers interested in the country’s real estate.”
Given this, the Russian developer said its first local project will make Mandaluyong even more attractive to property seekers. Lamudi data show growth in average monthly pageviews from Makati (14.39 percent), Pasig (80 percent), and Quezon City (95.52 percent). This includes property seekers who may already have at least one vehicle for private transport to work and other essential locations in nearby cities amid the pandemic.
According to the property portal’s 2020 data, garage, carport and secure parking were some of the considerations of house hunters looking into Mandaluyong, with these amenities factoring into 11.67 percent of searches into the city.
“We are honored to be working with Europe’s largest homebuilder to bring quality homes to property seekers in Mandaluyong. With One Sierra units available on the Lamudi platform, we bring property seekers closer to their dream home,” said Kenneth Stern, chief executive officer of Lamudi.
PIK is the largest homebuilder in Russia and Europe in terms of market capitalization among public homebuilders and 2020 area of construction. Headquartered in Moscow, it has already built around 500,000 comfort class urban homes.