Russian property developer PIK said on Thursday it is looking to expand into neighbouring Kazakhstan. The company recently set up a business unit, PIK Kazakhstan, in Astana, to facilitate the move. PIK Kazakhstan will be responsible for identifying land for purchase, zoning and construction, PIK said.
Russian property developer PIK said on Thursday it is looking to expand into neighbouring Kazakhstan. The company recently set up a business unit, PIK Kazakhstan, in Astana, to facilitate the move. PIK Kazakhstan will be responsible for identifying land for purchase, zoning and construction, PIK said.
'PIK's move into Kazakhstan is in line with its strategy of opening up new geographic markets where the economic fundamentals will support future growth. Kazakhstan has a stable economy that has grown strongly in recent years, supported by the performance of the oil and gas and agriculture sectors. Looking ahead, the country is predicted to achieve continued economic growth of 5.0% in the current year and 7.0% in 2009,' the Russian firm said in a statement.
