PIONEER Sells Nearly 35 Billion Rubles in Real Estate Over First Nine Months of 2024

Property developer PIONEER has reported its sales and construction performance from January to September 2024, with cumulative sales exceeding 70,000 square metres of residential and commercial property, totalling 34.8 billion rubles—an increase of 30% compared to the same period last year.

The residential portfolio accounted for 50,000 square metres sold, valued at 28 billion rubles. Since last year, PIONEER has significantly increased its premium-class share in sales from 36% to 69%, driven by the launch of the premium SHIFT complex and a new phase of the HIGH LIFE skyscraper project near Paveletskaya. Sales in phases one and two of HIGH LIFE reached 14,900 square metres, while 13,100 square metres were sold in the PRIDE family premium residential complex from January to September.

In the fourth phase of the business-class LIFE Varshavskaya complex, sales represented 27%, totalling 5.6 billion rubles. An additional 4% of area sold came from the elite segment, represented by the OPUS club residence on Derbenevskaya Embankment.

In commercial real estate, PIONEER maintained stable sales, with over 20,000 square metres sold, generating 6.8 billion rubles, consistent with results from the same period in 2023. The company remains among the top three commercial real estate developers in Moscow. A significant portion (53%) of sales came from offices and retail spaces in OSTANKINO BUSINESS PARK, with 21% and 26% attributed to offices in BOTANICA MFC and the OPUS business centre, respectively.

Leading rating agencies affirm PIONEER’s stable growth. Both the Analytical Credit Rating Agency and Expert RA confirmed the company’s credit rating at A- with a “stable” outlook, while the National Credit Ratings (NCR) agency also reaffirmed its A-.ru rating, upgrading the outlook to “positive.”

Since the beginning of 2024, PIONEER has commissioned 128,000 square metres of real estate, including phases four and five of LIFE Varshavskaya’s third stage and Building 6 in OSTANKINO BUSINESS PARK. Permits for 104,000 square metres have been obtained for projects including the SHIFT residential complex and two educational centres within the SHIFT and PRIDE developments. Currently, PIONEER is constructing nearly 700,000 square metres of real estate, with an additional one million square metres in the planning stage.