XXI Century starts building new retail center in Kyiv

XXI Century Investments (XXIC LN: U/R) said yesterday began construction of a new 54.2 ths m2 Kvadrat retail center on Myloslavska Street in Kyiv. The value of the project according to JLL’s appraisal was USD 120.7 mln as of December 31, 2007. Alexander Romanov: We estimate the total cost to construct the project at USD 49 mln. We think financing is secured as the company has already attracted USD 85 mln in debt since the beginning of the year.