Business news from Ukraine


City One Development (Kyiv) belonged to Valeriy Kodetsky, the developer of the Boulevard of Fountains residential complex located at 5, Saperne Pole Street in Kyiv, has announced the official opening of the last house of the second phase of the Boulevard of Fountains premium class residential complex.
“Four buildings were built under the project with a total area of 100,000 square meters. The project includes 811 apartments, as well as an underground parking for 1,200 parking spaces, and commercial premises. The area under the project is 4 hectares, more than one third of the territory is reserved for green areas,” City One Development told Interfax-Ukraine.
As reported, on May 17, 2019, City One Development announced the completion of the construction of the Boulevard of Fountains residential complex project. As of August 2019, more than 75% of apartments have been sold in the complex.
The project infrastructure includes areas for sports, children’s playgrounds, a panoramic lounge area, landscape areas and the only avenue in Kyiv with light and music fountains of 150 meters long.
According to City One Development, the attendance of commercial facilities along the fountain avenue, operating in the Boulevard of Fountains residential complex of city resort format this year has doubled.
“Over the three years since the opening of the first phase of the Boulevard of Fountains residential complex, more than 7,000 people visited the avenue with light and music fountains as guests. In the first eight months of 2019, the complex was visited by twice as many people as in the same period last year,” the developer said in a statement.

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Exko Plus LLC (Seven Hills developer, Kyiv) of businessman of Israeli origin Beny Steinmetz plans to start implementing a project to build a business class residential complex located at 39/2 Henri Barbusse Street in the Pechersky district of Kyiv. “We continue believing in business class – the segment where we work. We see and feel that it is stable. Demand remains. We will continue working in this residential housing segment,” Seven Hills CEO Arie Schwartz said at the RED PM DAY 2018 conference held last week in Kyiv.
He told Interfax-Ukraine that the company’s primary task is to complete the construction of the last stage of the Park Avenue residential complex, scheduled for the first quarter of 2019, and then focus on the new project.
As expected, the new complex will be designed for 670 high-end apartments. The construction of this residential complex was announced back in 2008. Then the developer several times postponed the start of its implementation.
According to Schwartz, the company’s portfolio contains five sites in Kyiv for development, one of them is Park Avenue residential complex (located at 58A, Holosiyivsky Avenue) and one in the pipeline – in the Pechersky district (located at 39/2, Henri Barbusse Street).
“We thought that it will take about five years to build Park Avenue. Today it is 11 years, and we continue working on our other projects,” Schwartz said.
As reported, Seven Hills in 2009 announced plans to start implementing three construction projects in Kyiv city and region, in particular, the Podol A class office center and a premium-class residential complex in Kyiv and the Airport City office and warehouse complex in Kyiv region.
Exko Plus LLC was established in 2004, its main activity is the construction of residential and nonresidential buildings.
According to the unified public register, participants of LLC are Global Space Management Limited (90%) and Respublika investment fund (10%). The ultimate beneficiary is Steinmetz.

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