PIK emerging as a front runner in post-pandemic PH Real Estate Market

PIK, the largest technology and homebuilding company in Russia and Europe, is planning to expand operations in the Philippines. They are conscious planning to increase their landbank in key cities in Manila so that they can commit to and meet the needs of Filipino homebuyers. PIK firmly believes that post-pandemic, the demand for quality homes will continue to rise in the Philippines, and they aim to be the front runner to provide supply for this demand. The company remains optimistic about the Philippine real estate market amid the pandemic.

One Sierra – PIK’s flagship project

PIK’s first Philippine project is a residential high-rise development One Sierra in Mandaluyong City. The building will have 10 units for each floor, for a total of 250 units. Units at the 30-storey tower range from 32 to 84 square meters, which are being sold at between P7 million to just over P16 million. Working with its local subsidiary HDRP Group Corp., the Russian company plans to complete the project by 2024 for a September turnover. Their mission has always been to provide beautiful, functional, and durable homes to raise and redefine their quality of life.

Mandaluyong – PIK’s Maiden project location

A strategic location is a foremost element for everyone looking to to invest in real estate, PIK has chosen the growing metropolis of Mandaluyong to mark its first project in the Philippines – One Sierra. Mandaluyong is in proximity to all of Metro Manila’s central business districts (CBDs), so necessities are easy to come by for its residents. This may be a key reason why amidst the pandemic, citizens of neighbouring districts are seeking to move into Mandaluyong. With the “Build, Build, Build” initiative, the BGC-Ortigas link road, MRT 3 rehabilitation, and EDSA greenways are assured to enhance Mandaluyong’s key location. Through the years, demand for Mandaluyong condominiums has progressively grown due to its proximity to CBDs without the extraordinarily high cost of living.

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 and has a market capitalization of $8.6 Billion over the world. Likewise, PIK is keen to be a part of this nation building and will continue to provide the PH real estate market with more homes of European aesthetic and quality.