PIK Group, the Russian residential proeprty developer listed in London, confirmed on Monday that it has acquired its first development site in St Petersburg. The 63-hectare site will be used to develop business class housing in what PIK has described as a flagship development in the Russian city. The total investment in the project will be $3bn (EUR 1.9bn).
CDC Investissement Immobilier, the real estate asset management subsidiary of French financial institution Caisse des Dépôts, has inked a strategic partnership with Covivio in Germany.
