London-listed PIK Group said on Wednesday that it is in advanced discussions over the acquisition of a major land plot in the historic heart of the city of St.Petersburg. The group intends to develop a flagship project in St. Petersburg aimed at the luxury segment of the market. Located in an exclusive area, the site will be developed over the next ten years and when completed will offer some 1.3 mln m[sup]2[/sup] of housing.
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