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PIK Group

January 19, 2016

PIK Group sells its share in City Quarter project

(MOSCOW, January 19, 2016) - PIK Group (LSE: PIK), one of Russiaís leading residential real estate developers, announces that it has sold its 100% share in City Quarter project, located in the center of Moscow.

The property is located on the land plot of 6.8 ha on Mantulinskaya Street and is currently occupied by the Krasnopresnensky sugar plant facilities. The City Quarter project was designed for development of elite residential housing and commercial premises.

The sale of the City Quarter project is in line with the Groupís strategy to focus on development of affordable housing.

Proceeds from the sale were used for further debt reduction.

Enquiries:

PIK Group

 

 

 

Investors

Media

 

 

Polina Kurshetsova

Natalia Mikhna

Tel: +7 495 505 97 33 ext. 1315

Tel: +7 (909) 913 14 70

E-mail: ir@pik.ru

E-mail: pressa@pik.ru

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