KDD Group acquires 1.5 ha freehold land plot for the WTC Kyiv project

KDD Group has acquired 1.5198 ha freehold land plot designated for the WTC project development. KDD Group has acquired the freehold land (which it previously held as leasehold) for USD 5.2 mln from the Kyiv City Council on 2 April 2008. All existing construction permits on the WTC project remain in force after the purchase. The project construction works are currently in progress.

WTC is planned to be a premium commercial development located on a 1.552 hectare site in the ensely populated Shevchenko district in close proximity to Kyiv’s main railway station. The ite benefits from nearby public transport links, including the Vokzalna underground station, and s four kilometres away from the city centre with convenient access by car. The project is esigned to have nine buildings, ranging from two to 31 storeys, with a gross area of
approximately 152,000 square metres and approximately 128,000 square metres of useable pace, which includes approximately 43,900 square metres of income-producing parking space roviding underground and open air parking for approximately 845 cars. Construction works egan in the fourth quarter of 2007 and the project is planned to be completed in the fourth uarter of 2010. The concept design was developed by RKW (Germany).

KDD Group is the holding company of one of Ukraine’s leading real estate investment and evelopment groups. The Group holds a diversified portfolio of real estate projects comprising ffices, residential complexes, retail centres and mixed-use projects. The Group currently has ight projects, of which three are in the construction phase and five are at various stages of esign and development. These projects, which have a total planned gross area of approximately  .7 million square metres, are located in the capital region of Kyiv with the exception of one esidential project in L'viv. As at 30 September 2007, the total  estimated aggregate market value f the Group's projects was US$ 908.2 million, based upon an independent report by property aluation experts, Colliers International.