TMM completes second phase of Kharkiv Green Town project

TMM Real Estate (TR61 GR) completed the second of three phases of its Green Town residential development in Kharkiv, the company reported on Feb. 20. The phase consists of 65 flats totaling 6500 sq m, as well as 800 sq m of commercial premises. All the flats were pre-sold, the company reported. In addition, the company is actively completing the project’s third phase – consisting of 64 flats – that is targeted to be commissioned by the year’s end.

Alexander Paraschiy: Green Town, its flagship Soniachna Brama in Kyiv, and TMM’s active providing of construction services to third parties should boost 1H13 revenue to above USD 50 mln (vs. USD 14.3 mln in 1H12). Recall in January, the company revealed its plan to complete 57,000 sq m of Soniachna Brama’s second stage in 1Q13, as well as a plan to double third-party construction work. We see the company as a growth story for the coming year.