Proceeds from sales of real estate of the group of companies PEAK in January—March 2017 reached 39.3 billion against RUB 17.3 billion RUB over the same period last year, an increase to 127.6%, to the report developer (have). While sales volumes in square meters has grown at a slower pace — by 86.3%. In the first quarter, the company sold 380 thousand sq. m against 204 thousand square meters for the same period in 2016.
A year earlier the trend was more modest: while sales of PIK group increased by 28.9% in value terms and by 85.5% in the areas.
Sales growth occurred on the background of the “acquisitions last year,” and diversifying the company’s portfolio in the segment of affordable housing, explains the President of PIK group, Sergey Gordeev, whose words are reported. At the end of 2016, the company closed the acquisition of the group “Morton”, the largest developer of housing in Russia. As a result, in Russia appeared the largest developer controlling 13.7 percent of the capital’s housing market. The purchase cost Peak at 11.7 billion rubles., said last week the company. Meanwhile, the company has paid 7.1 billion RUB over other assets, “which include land, fixed assets and companies presenting services for maintenance of completed real estate”.
At the same time, two other public developer LSR group and Etalon — reported a decrease in sales of their apartments in the first quarter of 2017. The physical volume of housing sales companies decreased by 34% and 14% respectively. In monetary terms, the revenues of LSR decreased by 36%, to 13.5 billion rubles, “Benchmark” by 20.3%, to 10.2 billion rubles.
In the companies the drop in sales was associated with a high comparative base of the first quarter of 2016. Then “the market saw abnormal demand” due to fears of imminent cancellation of the program of state subsidies for mortgage rates, said the report of the group LSR. Sales growth in January—March of last year, indeed, were all the public developers and ranged from 30 to 240%.
Head of research and consulting real estate company “best new Building” Sergey Lobzhanidze, however, attributed the decline in sales of other developers in the Moscow region with the Union of PIK group and “Morton”. Following the transaction, most of the demand in the cheapest and popular segment could flow to PIK, assumed Lobzhanidze.
The largest shareholder of PIK group with a share of 29.9% is Sergey Gordeev. Another 16% is owned by Alexander Mamut and 9.8% owner of the group “Safmar” Mikail Shishkhanov. The free float is around 44.3% of the shares. At the moment, they are traded on the Moscow and London stock exchange. However, on 15 June 2017, the company intends to delist from the London stock exchange, explaining the solution to a small volume. The company announced March 13.