OREANDA-NEWS. One of the biggest developers in Ukraine, XXI Century, has announced that it would create a new joint venture with Kharkov businessman Alexiy Yaroslavsky. The owners plan to invest a total of $70-100 mln in a new company called XXI Century Kharkov by YE2008. The statutory fund is to be created by two equal partners, with XXI Century owner Lev Partskhaladze holding the option to buy out Yaroslavsky's stake after 3-5 years.

In the view of Alfa Capital Ukraine analysts, the creation of this new company will be positive for XXI Century, as its regional partner will strengthen the company's position in regional markets.