Russian homebuilder PIK has entered the online real estate market in the Philippines as part of its Asian expansion strategy, listing its first property offering on the digital property platform Lamudi.
One Sierra, the company’s first development project in the Philippines, will bring 250 high-quality units spread across 30 floors.
“With only 10 units per storey, residents will enjoy unparalleled exclusivity. Geared towards privacy and wellness, it will feature amenities including a swimming pool and deck area, gym and wellness area, and a function room,” the company said.
One Sierra is a low-density condominium which also reflects the needs of the Philippine market given that most Filipinos are in a work-from-home setup due to lockdown, the company added. It also offers flexible premium spaces like small office/home office or SOHO units. Sizes range from 32 square meters (sq m) to 84 sqm.
The Russian developer said its first local project will make Mandaluyong even more attractive to property seekers. Lamudi data show growth in average monthly pageviews from Makati (14.39 percent), Pasig (80 percent), and Quezon City (95.52 percent). This includes property seekers who may already have at least one vehicle for private transport to work and other essential locations in nearby cities amid the pandemic.
In terms of market capitalization among public homebuilders and 2020 construction area, PIK is the largest homebuilder in Russia and Europe. Its headquarter is in Moscow, and it has already constructed approximately 500,000 comfort-class urban homes.