Sobyanin threatened PIK to break contracts due to missed deadlines
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Moscow Mayor Sergei Sobyanin said that the PIK group of companies will be suspended from construction in the capital if the projects are not completed on time. He criticized the developer for the slow construction of a new school on Lublinska Street. After the words of Mr. Sobyanin, the shares of the PIK group went from growth to decline by Mosbirzhe. By 15:17 Moscow time, securities were down 0.29% to 617 rubles, although during the day they rose by about 3.5% by the close of yesterday’s trading.
During the inspection of the school under construction as part of the Lublinsky Park residential complex, Mr. Sobyanin noted that the developer had already commissioned 200 thousand square meters. m, but has not yet put into operation a kindergarten and a school. Because of this, according to the mayor, the residents of the complex are forced to go “it is not clear where, to overcrowded schools.”
“If this practice continues, you will not build in Moscow, understand? Speed up,” Sergei Sobyanin said to the CEO of the PIK group of companies, Ivan Polandov (quote from Interfax). The mayor of the capital expressed his hope that the new educational institution will open by September 1, 2023.
After Mr. Sobyanin threatened the developer with removal from construction in Moscow, the shares of the PIK group lost their growth. By 15:17 Moscow time, securities fell by 0.29% to 617 rubles, evidenced Moscow Exchange.
On the situation in the primary real estate market – in the material “Kommersant” “New buildings froze in anticipation”.
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