Russian leader in housing construction to build housing on Sakhalin island
MOSCOW, Sep 4, 2020, Pan Pacific Agency. PIK Group of Companies, the largest real estate and home-builder company in Russia, to come in the development market of the Far East, having concluded an agreement on investment in housing construction with the regional govt of Sakhalin (an island on the border with Japan). The Sakhalin authorities expect that the home-builder would build at least 800,000 square meters in the administrative center of the region, the city of Yuzhno-Sakhalinsk, over the next 10 years, Valery Limarenko, the Sakhalin Governor, said today.
In 2020, 430,000 square meters of housing will be built in the Sakhalin region, in 2021 – 500,000 square meters. “17,000 young families need to improve their living conditions. Also around 500,000 square meters of housing in disrepair is registered in the region, in the coming years we will register the same amount. All these residents need to be resettled. As calculations show, in the next five or six years these tasks would be solved if we build 500,000 square meters of housing per year. Now Sakhalin has 12 million square meters of the housing. So, in next 10 years we will build 5 million square meters,” Valery Limarenko calculated.
PIK Group of Companies plans to start developing three sites in Yuzhno-Sakhalinsk in the first or second quarter of 2021, Sergey Gordeev, its president, announced. According to Valery Limarenko, investments in construction will amount to about 80 billion rubles ($1B), summary costs with infrastructure are around 120 billion rubles ($1.6B). “The Sakhalin Oblast budget to invest in the construction of partly engineering infrastructure, partly social and cultural facilities,” he added.
In February 2020, the Sakhalin government announced the intention of the PIK Group of Companies to launch the production of modular houses. The factory’s capacity declared up to 300,000 square meters per year, CAPEX – around 4.5 billion rubles ($60M). Regional officials highlights that house kits can be used for construction in Sakhalin, in the Khabarovsk and Primorsky regions, in Kamchatka, in some regions of the Arctic, and can also be exported to the countries of the Asia Pacific region. PIK Group of Companies is developing a feasibility study for this project, but it is too early to disclose the parameters, Sergei Gordeev said today.
In 2019, according to the Federal Statistics Service, 2.4 million square meters of housing were commissioned in the Russian Far East, for the first half of 2020 – 815,900 square meters. The total population of 11 regions included in the Far East federal district is 8.16 million people (5.5% of the population of Russia). PIK Group of Companies ranks first among Russian real estate and home-builder companies (7 million square meters of current construction as of February 1, 2020).
Russian version of this article is available here.
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