PIK, the largest homebuilder in Russia and Europe in terms of market capitalization among public homebuilders and 2020 area of construction, enters the online real estate market in the Philippines by taking their maiden property offering to the leading digital property platform Lamudi..
The European developer lists their first residential complex in the Philippines on the real estate platform as part of their plans to expand their footprint to key markets in Asia. PIK’s maiden development in the country, One Sierra, will highlight the developer’s over 25 years in the real estate industry. Headquartered in Moscow, Russia, they have already built about 500,000 comfort class urban homes.
One Sierra in Mandaluyong City will bring 250 high-quality units spread across 30 storeys that echo European aesthetic, quality, and expertise. With only 10 units per floor, residents of One Sierra enjoy unparalleled exclusivity. PIK’s partnership with Lamudi will showcase this low-density development to property seekers not just in Mandaluyong, but all over the Philippines and abroad.
A partnership between digital-first companies
PIK and Lamudi’s partnership brings together two companies known for revolutionizing the real estate industry. PIK has set the new industry standard for territory landscaping and Lamudi has digitized property search even pre-pandemic. Rising to the challenges in the industry, the two companies have adopted digital-first strategies amid the health crisis. As early as 2019, PIK has already switched 100% of their sales online–the first to successfully implement this in Europe. Meanwhile, in early 2020, Lamudi pivoted to virtual events to address the difficulties faced by stakeholders in the buying, selling, and renting landscape.
PIK brings its thoughtful attention to detail, cutting-edge technology, and rich experience to the Philippine market, with Lamudi as its chosen platform with up to 7M monthly pageviews from local and overseas property seekers interested in Philippine real estate.
Lamudi CEO Kenneth Stern is optimistic about the partnership, sharing, “We are honored to be working with Europe’s largest homebuilder to bring quality homes to property seekers in Mandaluyong. With One Sierra units available on the Lamudi platform, we bring property seekers closer to their dream home.”
Exclusive, secure, comfortable homes in a central location
Aside from bringing a touch of European aesthetic, One Sierra units also reflect the needs of the Philippine market. When the enhanced community quarantine was announced in March 2020, employees in the central business districts pivoted to a work-from-home setup. This called for a change in home priorities, where a guest room was better utilized as a home office, and wellness and fitness amenities within reach became essential.
One Sierra will feature amenities geared towards privacy and wellness, including a swimming pool and deck area, gym and wellness area, and a function room. One Sierra features flexible premium space, from studio, one-bedroom, and two-bedroom units, as well as Small Office/Home Office (SOHO) units. Sizes range from 32 to 84 square meters–giving homeowners plenty of room to cater to their work and family activities, even with everyone at home.
Real estate landscape in Mandaluyong
Most of the real estate transactions for Mandaluyong properties on Lamudi in 2020 were for properties for sale (64.54%), with condominiums and houses toe-to-toe as the most preferred property types. What’s interesting is that Mandaluyong residents are choosing to stay in Mandaluyong, and even residents of neighboring CBD cities are also looking to move into this city.
Mandaluyong is the home of the Ortigas Center, a central business district it shares with Pasig and Quezon City. The proximity of these locations may also be one of the reasons their residents have been eyeing Mandaluyong as a real estate hotspot.
For the majority of 2020 and the beginning of 2021, various levels of community quarantine prompted property seekers to stay at home and even conduct property searches at home. Lamudi data shows growth in average monthly pageviews from Makati (14.39%), Pasig (80%), and Quezon City (95.52%) into Mandaluyong. This includes property seekers who may already have at least one vehicle for private transport to work and other essential locations in nearby cities amid the pandemic.
According to Lamudi’s 2020 data, garage, carport, and secure parking were some of the considerations of property seekers looking into Mandaluyong, with these amenities factoring into 11.67% of searches into the city. Addressing this demand in an innovative way, PIK offers effortless parking as one of their premium amenities. With their automated parking solution, residents simply need to drop off their vehicle and the system will park it securely on their behalf.
With a development planned to reach world-class standards and able to adapt to current home needs, PIK’s first project in the Philippines will make Mandaluyong even more attractive to property seekers.