The head of the investment group Concorde Capital, Ihor Mazepa, has announced the entry into a project of a cottage village and a hotel in the Shelest suburban complex and the construction of phase two of Goodlife Park in Vyshgorod district of Kyiv region.
At this stage it is planned to send more than $25 million to the implementation of the projects, and the total amount of investments in them, taking into account previous investments, will exceed $60-65 million.
“Previously, the main focus was on the growth of consumption, so we invested in the production of cardboard and cement, now we are betting on de-urbanization and suburban real estate. There are at least three more projects similar in scale to Goodlife and Shelest in the pipeline,” Mazepa said in an exclusive interview with Interfax-Ukraine.
Thus, the group is investing about $10 million in the Shelest cottage community project, located next to the Shelest suburban complex near Kyiv. The housing area in the project will be 10,000 square meters.
In addition, on the territory of the Shelest complex, the construction of its hotel part with 100 rooms, including a SPA, continues. Investment in the hotel project is $15 million.
“In total, Shelest will have $30-35 million [of investment], taking into account previous investments,” Mazepa said.
The construction of phase two of the elite cottage town Goodlife Park has also started. The project provides for the construction of 30 cottages and additional infrastructure. According to Mazepa, the total investment in Goodlife Park is $35 million.
“In addition, we are considering a couple of similar projects in other directions, and we will look for co-investors for them. Accordingly, we expect a decent return on investment,” he said.
As Mazepa said, the de-urbanization trend and quarantine restrictions significantly increased the demand for suburban real estate, which stimulated an increase in rental rates and prices.
“We are witnessing a boom in the suburban real estate market: rental rates have grown by 1.5 times, especially in the premium segment. There are cases when they have doubled. We have simply sorted out everything decent that could be rented. And this, of course, affects the sale of new suburban real estate. If rents go up, then property prices also go up. And along with this, buying activity grows. This is what we have seen for the past nine months. This applies to Goodlife, Shelest, as well as many other suburban stories – everything is perfect there: a new demand began to appear, which we have not yet seen and which we did not expect,” he said.
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