KAN Development LLC (Kyiv) plans to invest some $400 million in construction of the Respublika residential complex near the eponymous shopping and leisure center at 1, Kiltseva road in Kyiv. “Let’s calculate: if you take 800,000 square meters, then the amount of investment will be about $400 million. Of course, we will invest a part of this amount at the expense of attracted investors’ funds,” Honorary President of KAN Development Ihor Nikonov said during the presentation of the Respublika residential area on Wednesday.
According to him, first of all the project will include four houses, a public center and a kindergarten. It is planned to commission it in one and a half years. All the first floors will be given to the service sector.
In general, the Respublika multifunctional complex, including a residential part and an unfinished shopping and entertainment center, will be located on 100 hectares. According to Nikonov, the first part of the Respublika residential area project envisages the construction of 250,000 square meters of housing on 22 hectares during five or six years, then the rest of the land will be designed for new housing.
“The specific element of this project is that it will create the Academy of Sports from the very beginning. The academy will work from the first day of the opening of the first house. This is two basketball fields, two football fields, a children’s field and courts for Paddle-Tennis. The entire inventory and bicycles will be free of charge. There will also be a playground for walking of dogs with coaches,” Nikonov said.
