Russian billionaire eyes modular housing take-off

Mr Sergey Gordeev’s PIK Group has surged nearly 140 per cent to become Europe’s most valuable home builder.
Mr Sergey Gordeev’s PIK Group has surged nearly 140 per cent to become Europe’s most valuable home builder.

(BLOOMBERG) - Russian billionaire Sergey Gordeev, whose PIK Group surged nearly 140 per cent this year to become Europe's most valuable home builder, thinks his industry is due for a disruption or risks going the way of petrol-guzzling cars and brick-and-mortar stores.

He has ambitions to transform his company, now worth about US$13 billion (S$17.5 billion), into a global leader in modular housing that can build towering apartment blocks in weeks and establish a platform that makes buying and renting apartments more like shopping for groceries online.

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