Billionaire behind Europe’s top builder wants to disrupt housing

Gordeev thinks the homebuilding industry is due for a disruption. — Photo by Randy Fath on Unsplash

Russian billionaire Sergey Gordeev, whose PIK Group PJSC surged nearly 140% this year to become Europe’s most valuable homebuilder, thinks his industry is due for a disruption or risks going the way of gas-guzzling cars and brick-and-mortar stores.

Gordeev has ambitions to transform his company, now worth about US$13bil (RM54.44bil), 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.