PIK is negotiating to purchase a land plot on Malaya Nikitskaya Street in Presnensky District of Moscow for construction of an elite residential complex, Vedomosti sources said. It will be the developer's first project under luxury brand Mono. Real estate experts estimate the cost of site at ₽500-600 million. The size of the site allows to build 7-10 thousand sq. m of real estate. Investments in the project could be up to ₽2.5 billion.