Russian billionaire eyes modular housing take-off

(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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