VK Development to Construct Two Warehouse Complexes

VK Development (VKDK: N/R) announced it will construct two warehouse complexes by 2011, according to Interfax. The first one, in Kyiv region, will have an area of 100 ths m2 and occupy a 40 ha land plot, while the second in Donetsk region will have an area of 30 ths m2 and be located on 15 ha land plot. The head of the company’s supervisory board, Roman Lunin said that VK Development plans to invest USD 500 mln to construct 675 ths m2 in retail premises by 2010, versus the 102 ths m2 it has constructed to date. Currently, VK Development’s portfolio includes eleven retail and warehouse projects. In addition, the developer’s CFO, Oleh Piavka said that the company is considering raising USD 300 mln via an SPO in about two years on the LSE. He also said that VK Development plans to attract USD 150 mln in bank loans in 2008.