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Ministry of economic development of the Russian Federation

Russia’s PIK Group may launch construction projects in Saudi Arabia in 2020

07.11.2019

PIK Group of companies may launch construction projects in Saudi Arabia in 2020, head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev told reporters on Thursday.

"We are now actively supporting the activities of the PIK group. We believe that already next year the group may launch projects in Saudi Arabia," he said.

Earlier, Dmitriev told reporters that the RDIF was discussing with the PIK Group of companies the possibility of building a plant in Saudi Arabia, as well as the developer’s involvement in the construction program in that country.

PIK is the largest Russian developer implementing comprehensive projects in ten regions of Russia with a focus on Moscow and the Moscow Region. PIK has been operating on the market since 1994 and specializes in the construction of comfort-class housing. By a decision of the Russian government, PIK Group of Companies was included in the list of backbone enterprises of the Russian economy. According to the Unified Register of Developers, PIK is the largest Russian developer in terms of current construction volumes.

Source: TASS



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