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Friday, July 13, 2007

New TRE'n'D in Retail Market

A developer Trade Real Estate & Development (TRE'n'D), a member of the holding company AVentures Group, plans to open shopping centers in Odessa and Cherkassy. Delivery of first of them in Cherkassy planned by the end of 2007 on the16 ha land plot of 16 hectares. The total area of the shopping center is 60K sqm. Next step of the company the company, by the end of 2008 to complete the construction of shopping center with total area about 80K sqm., located on the 8th km of Leningrad Highway in Odessa.

The company did not disclose the amount of investment in construction of shopping centres, but report that is own funds and bank loans. Besides, in the near future the company plans to attract a strategic investor to finance the development. Some figures: private placement 20-25% stake of the TRE'n'D before the end of 2007, by which attracts at least $ 10 million for future projects.

The company also reported that are being designed for construction projects in Kiev shopping centre with GLA 18K sqm. and 7K sqm. in Poltava.