26.11.2007, 21:38
XXI Century Investments Acquires 2 New Projects
OREANDA-NEWS. November 26, 2007. XXI Century Investments, one of Ukraine's leading real estate investment, development and property management companies, today announces that it has acquired two new projects in Ukraine.
Cherkasy Mixed-Use
It is planned that the project will include a Kvadrat shopping centre as well as a residential complex. The project was acquired for approximately $2.5 million.
Kvadrat-Cherkasy is expected to have a total floor space of approximately 52,000 sqm., including approximately 37,000 sqm. of commercial space. The total area of the residential complex is expected to be approximately 60,000 sqm.
Both the commercial concept of this project and appropriate market research have already been completed by XXI Century. The Company is now in the process of conducting a tender for project planning and design works.
The project will be developed on a 12.0 Ha land plot located in the most densely populated district of the city and is leased pursuant to a 49-year lease agreement expiring in 2056.
Construction is scheduled to commence in the fourth quarter of 2008 with the opening planned for the second half of 2010.
Cherkasy is a regional centre in central Ukraine which benefits from its location on the Dnieper river and its proximity to the capital. XXI Century is the first developer to publicly announce its intention to build a modern shopping centre facility in this city, which has a population of about 300,000 residents.
This acquisition reflects XXI Century's strategy to expand its Kvadrat shopping centre chain throughout Ukraine. The Company now manages one operating Kvadrat shopping centre in Kyiv, another two are under construction in Kyiv, four projects in Kyiv and Crimea are in the pre-construction stage and an additional eight Kvadrats across Ukraine are on earlier stages of development.
The total area of the Kvadrat chain amounts to approximately 790,000 sqm (including operating properties and the expected total area of projects under development).
Crimea Logistics Centre
The Company has also acquired a 100% interest in a new project for the development of a logistics and warehouse centre in Simferopol, the capital of Crimea. The project will be located on a 18.8 Ha land plot leased pursuant to a 49-year lease.
This site is expected to be developed into an approximately 100,000 sqm. Modern logistics and warehouse complex. Construction is expected to start in the first quarter of 2009 with completion scheduled for the second half of 2010.
XXI Century has already completed the market research and commercial concept for this logistics complex and is now preparing tender documentation for the project design works.
This acquisition is in line with XXI Century's strategy to create a chain of logistics complexes across Ukraine. It is the seventh warehouse project in the Company's portfolio, in addition to projects in Kyiv, Odesa, Dnipropetrovsk and Kharkiv.
Cherkasy Mixed-Use
It is planned that the project will include a Kvadrat shopping centre as well as a residential complex. The project was acquired for approximately $2.5 million.
Kvadrat-Cherkasy is expected to have a total floor space of approximately 52,000 sqm., including approximately 37,000 sqm. of commercial space. The total area of the residential complex is expected to be approximately 60,000 sqm.
Both the commercial concept of this project and appropriate market research have already been completed by XXI Century. The Company is now in the process of conducting a tender for project planning and design works.
The project will be developed on a 12.0 Ha land plot located in the most densely populated district of the city and is leased pursuant to a 49-year lease agreement expiring in 2056.
Construction is scheduled to commence in the fourth quarter of 2008 with the opening planned for the second half of 2010.
Cherkasy is a regional centre in central Ukraine which benefits from its location on the Dnieper river and its proximity to the capital. XXI Century is the first developer to publicly announce its intention to build a modern shopping centre facility in this city, which has a population of about 300,000 residents.
This acquisition reflects XXI Century's strategy to expand its Kvadrat shopping centre chain throughout Ukraine. The Company now manages one operating Kvadrat shopping centre in Kyiv, another two are under construction in Kyiv, four projects in Kyiv and Crimea are in the pre-construction stage and an additional eight Kvadrats across Ukraine are on earlier stages of development.
The total area of the Kvadrat chain amounts to approximately 790,000 sqm (including operating properties and the expected total area of projects under development).
Crimea Logistics Centre
The Company has also acquired a 100% interest in a new project for the development of a logistics and warehouse centre in Simferopol, the capital of Crimea. The project will be located on a 18.8 Ha land plot leased pursuant to a 49-year lease.
This site is expected to be developed into an approximately 100,000 sqm. Modern logistics and warehouse complex. Construction is expected to start in the first quarter of 2009 with completion scheduled for the second half of 2010.
XXI Century has already completed the market research and commercial concept for this logistics complex and is now preparing tender documentation for the project design works.
This acquisition is in line with XXI Century's strategy to create a chain of logistics complexes across Ukraine. It is the seventh warehouse project in the Company's portfolio, in addition to projects in Kyiv, Odesa, Dnipropetrovsk and Kharkiv.
Комментарии