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Tuesday, July 17, 2007

New Retail Project In Odessa's Beach Part

British Absolute Capital Management Fund closed the first transaction in Ukraine by purchasing a land plot in Odessa for the shopping center Riviera Shopping City with total area exceeds 100K sqm and investments about EUR 75 mln.

Regarding the AIM information Absolute Capital Management Fund announced to investors that acquired in the eastern part of Odessa, near "Riviera" beach a plot of 18.5 Ha for the Riviera Shopping City.

According to the Fund Manager Robert Provine, this is a its first transaction n Ukraine. "We have been negotiating for the acquisition of several objects, and some of them already have signed contracts .We are ready within three years to invest in real estate in Ukraine EUR 350 mln." said Mr. Provine and promised over the next six months to announce about these projects . ".