PIK Appoints IntermarkSavills as Marketing Consultant

03 september 2008

The PIK Northwest Company that represents the developing block of the PIK Group of Companies in Saint Petersburg and the Leningrad oblast has announced the selection of a marketing consultant for its housing development project on the alluvial areas of the Vasilievski Island.

On the 63.4 hectares of the territory of the Marine Façade, acquired at the beginning of June 2008, the PIK Group of Companies aims to develop 1,138,050 sq. m. of business and deluxe class housing. IntermarkSavills was chosen as Marketing Consultant for the development after negotiations with the leading advisory companies that have extensive experience of work within such projects, as well as after a scrupulous analysis of all submitted offers.

IntermarkSavills is a partnership of two established companies represented in the Russian real estate and investment market as a joint brand. Intermark has 15 years of experience working within the Russian market and it is one of the leading companies that supply real estate and consulting services. Savills was established in 1855 in Great Britain and has an extensive network of offices in 40 countries. The Savills portfolio includes some of the most iconic and exclusive projects from all over the globe, including One Hyde Park, The Knightsbridge in London, The Chicago Spire, Le Provencal in Juan les Pins in the south of France, the Olympic Village in London and key projects on the coast of Dubai and Montenegro. IntermarkSavills consultancy portfolio includes the monitoring of key development projects and point elite apartment blocks in the centre of Moscow (for example within the Moscow Business Centre "Moscow City", the Golden Island, the Park City) and in the prestigious sectors of the nearest suburbs of Moscow (the Rublevo-Uspenskoye, Novorizhskoye and Skolkovskoye highways).

IntermarkSavills is currently developing the marketing strategy for the project that will include an analysis of the market and target customers, an analysis of the most efficient use of the area, as well as the housing structure and concept. The obtained data shall underpin the marketing concept of the performance specification for the designing company. The strategy is scheduled for completion by the end of October 2008.

Pavel Poselionov, the Director General of the OOO "PIK Northwest", commented on the appointment of IntermarkSavills: "The project of housing development in the territory of the Morskoy Fasad is one of the priority projects for the PIK Group of Companies. We understand the importance of the role of the consultant during the implementation of large-scale projects like this one and we have approached its selection with maximum responsibility. We conducted negotiations with the leading Russian and international companies. IntermarkSavills has showed its worth as a reliable partner and an experienced consultant in the sphere of housing development, and we are confident of success of our collaboration."

Aleksandr Shatalov, the Head of IntermarkSavills, gave the following comment: "IntermarkSavills is very proud to have been chosen as a consultant for the housing development project of the PIK Group of Companies in the territory of the Morskoy Fasad. Taking into account the urban development significance of this project, its housing and commercial components, we believe that it has all the chances to reach the level of the leading international analogues."