Moscow-based PIK Group has announced the acquisition of a 127-hectare site on Kalyzhskoe shosse, a developing area of the Moscow region about 4-5 km from the Moscow Ring Road. The company plans to develop a township of approximately 1 million m[sup]2[/sup] of net sellable area. The project will include social infrastructure and 55,000 m[sup]2[/sup] of middle-class houses. Completion is estimated for 2017.
Swiss real estate group Investis has boosted its real estate holdings with the CHF 139 mln (€149 mln) purchase of prime residential properties in Vaud canton.
