Russian leading developer Pik Group said on Tuesday that it is expanding into another new city in Russia's regions with the acquisition of a major land plot in the city of Krasnodar. The total area acquired is around 24 hectares on which the firm plans to develop approximately 250,000 m[sup]2[/sup] of residential and commercial real estate by the end of 2013. The project developer will be PIK-Kuban, a subsidiary of Pik Group with operations in the Krasnodar region.
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