Unibep S.A., one of the largest construction companies in the Polish market, has signed a conditional agreement on completing the construction of a shopping and entertainment complex in Kyiv with the Ukrainian company Martin LLC (Kyiv), part of the Lithuanian investment group BT Invest. According to a report by Unibep S.A. on the stock exchange, the contract was concluded on October 30, 2018. The condition for its entry into force is the receipt by Martin LLC of a loan from Poland’s Bank Gospodarstwa Krajowego S.A. (BGK) and the availability of a written confirmation of the entry into force of the loan agreement.
According to the report, the cost of the construction contract will be EUR34.6 million. At the same time, the customer makes an advance payment of 15% to Unibep S.A. at its own expense, while the remaining 85% will be financed by a loan provided by BGK.
The implementation period is 14 months from the date of commencement of construction.
BT Invest Group, in particular, Stolitsa Group investment and development company, which is part of it, is currently developing the project for the construction of the Retroville shopping and entertainment center at 47 Pravdy Avenue in Kyiv, whose commissioning was scheduled for 2019. The project partner is BT-Invest investment company, the exclusive broker is Colliers International (Ukraine).
The Intergal-Bud construction company (Kyiv) plans to boost housing construction 1.5-fold in 2018, to 250,000 square meters, Commercial Director Hanna Layevska has said. “In total, we plan to introduce about 250,000 square meters of housing in 2018. In 2017, we actually commissioned 170,000 square meters. This year we plan to launch at least five new facilities, which are mainly located in the downtown areas and in the Holosiyivsky district of Kyiv. These are Vystavkovy residential complex, Lukyanivsky Cascade residential complex, and a few more facilities that are in the design and construction phase,” she told Interfax-Ukraine.
According to Layevska, this year the company intends to finish the construction of Parkovi Ozera, Yaskravy, Otradny and Demiyivka residential complexes in Kyiv.
According to the commercial director of Intergal-Bud, prices for many properties in the first five months of 2018 grew by 10-12% in U.S. dollars. According to her, in the first half-year of 2018, purchases of apartments with 100% payment decreased and the share of installments and lending contracts increased.
At the same time, despite the price increase, the company’s sales pace in 2018 increased by more than one third compared to 2017, Layevska said. According to the commercial director, a major challenge for developers in 2018 is a lack of general contractors.
Intergal-Bud construction company LLC was founded in 2006. It is subsidiary of Lviv subsidiary established in 2003.