PIK plans to construct an urban area with 1.1 million m[sup]2[/sup] of net sellable space on an 124-hectare site the Russian residential developer has acquired in the Russian city of Perm. The development will be the first phase on a large site totalling 500 hectares which the local authorities in Perm have earmarked for real estate development.
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.
