PIONEER increased 2023 sales to RUB 44bn
PIONEER sold more than 135,000 m² of commercial and residential space. The property developer’s sales totalled RUB 44 billion: at the end of 2023, this company indicator reached pre-crisis levels.
The company achieved high results in sales of both residential and commercial property. Over 80 thousand m² were sold in the real estate developer’s residential projects. Terraced units in residential estate PRIDE and 3- to 4-room view properties with an area of 75 to 130 m² in HIGH LIFE were particularly popular among buyers, confirming the demand for PIONEER’s premium projects, which have all the necessary infrastructure for family life in central city locations. In 2023, residential estate PRIDE was awarded a special Urban Awards prize in the category “Premium Parents’ Choice”; the results were influenced not only by the jury’s opinion, but also by user votes, who highly appreciated the project’s concept for family living.
Continuing its efforts in the commercial property segment, in 2023 PIONEER sold two entire buildings in the OSTANKINO business park in Moscow’s Butyrsky district. One of the buildings will house the headquarters of an IT holding company, while the second building was purchased by the investor for subsequent leasing. By the end of 2023, 80% of the space in OSTANKINO BUSINESS PARK had been sold. Active sales were also conducted in the multifunctional complex BOTANICA, which will be commissioned in 2024. The project sold 76% of offices and 85% of the shopping centre space.
At the end of last year, the property developer commissioned more than 111 thousand m² of residential and commercial property: 3rd stage towers of LIFE Varshavskaya and two blocks in OSTANKINO BUSINESS PARK. In addition, PIONEER completed construction and opened a school for 900 pupils in the Moskvorechye-Saburovo district. The facility was handed over to the city in 2023, and the opening ceremony was attended by Russian Prime Minister Mikhail Mishustin and Moscow Mayor Sergey Sobyanin.
In 2023, the company received permission to build more than 212 thousand m² of real estate, consistently increasing its portfolio of properties under construction. The real estate developer started constructing a new stage of LIFE Varshavskaya with a total area of 81.2 thousand m². The premium segment of the company’s portfolio increased due to obtaining permits for HIGH LIFE stage 2 near the Garden Ring, where 108.3 thousand m² will be built, including 66 thousand m² of design-finished, white box and unfinished premises.
PIONEER continued its development in the financial sphere: for the first time in the company’s history and among the first of real estate developers, it placed digital bonds in the amount of RUB 1.1 billion, which were redeemed by investors within a few days.
PIONEER also affirmed its high credit rating from the rating agencies AKRA, Expert RA and NKR due to its comfortable debt load, high profitability and debt service indicators, as well as a strong liquidity assessment and cash flow.
It is worth mentioning that the property developer is constructing seven projects within the boundaries of the “old” Moscow: premium-class complexes HIGH LIFE and PRIDE, club residence OPUS, business-class residential estate LIFE Varshavskaya, as well as commercial real estate objects — OSTANKINO BUSINESS PARK, MFC BOTANICA, and the OPUS business centre. The company aims to consistently strengthen its position in the premium segment of housing and plans to launch new premium-class projects in the central districts of Moscow in 2024.
