MIC (organization)
MIC Group is a Moscow-based construction organization comprising a number of property development, construction and real estate companies. It specializes mainly in housing construction and has a portfolio of over 2.5 mln sq m of property development projects.
Founded in 1999 as a real estate company, LLC "Moskovskiy Ipotechny Centr – MIC" moved into the investment and property development sector in 2001, when it became a co-investor in a number of Moscow housing projects. Its first completed project was a group of apartment blocks in Krasnogorsk. In 2013, RBC Rating named MIC as the second biggest property developer in Russia by construction volume.
In 2000, MIC Group had a turnover of 1.1 bn rubles, which increased to 1.6 bn rubles in 2007, 20 bn rubles in 2012, and 49 bn rubles in 2014. Its debt burden is 1.5–2 bn rubles.
In 2017, MIC Group announced plans to invest 28 bn rubles in the construction of over 700,000 sq m of housing in "New Moscow". As a result, on the basis of its current asset pool, MIC has a land bank of almost 6 mln sq m of real estate.
