KDD Group acquires residential project in Kyiv
3 October 2008
Kyiv Donbas Development Group (KDDG LN: BUY) bought a residential project in Kyiv with a total area of 5,447 ths m2, Petro Radchuk, vice-president of the company announced yesterday. The cost of the deal is EUR 4.2 mln. According to Radchuk, the project is at the stage of receiving permissions for construction. The construction start is scheduled for April 2009. Alexander Romanov: We estimate the total cost of the project at USD 12 mln. The company has already secured financing for its projects under construction and still owns cash deposit of USD 60 mln. Thus financing of the new project looks feasible for the company.
