TKS Management Buys Land Plot in Lviv

According to Interfax, real estate developer TKS Management (37W1 GR: BUY) has purchased a site in Lviv designated for residential use for UAH 3.6 mln. Groundbreaking is scheduled for 2Q08; construction should be completed in 4Q08. The acquisition adds 17 ths m2 to the company’s portfolio, which now totals 248 ths m2. The developer said it estimates that the new project will add about USD 6 mln to the value of its portfolio.