Russia's PIK sees continued demand for residential real estate

MOSCOW Tue Jan 21, 2014 2:21am EST

Related Topics

MOSCOW Jan 21 (Reuters) - Russian homebuilder PIK expects total cash collections for 2014 to rise by up to 4 percent compared with an 11 percent rise the previous year, driven by continued demand for affordable mass-market residential real estate, it said in a statement on Tuesday.

It forecasts total gross cash collections of 76-78 billion roubles in 2014, from 74.8 billion in 2013. Last year's figure was driven by strong sales of apartments to individuals, it said.

(Reporting by Megan Davies)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.