ITT Invest to Develop Mixed-use Complex in Kiev

 Kiev-based investment company ITT Invest intends to allocate about USD 100 to120 mln for construction of a mixed-use complex in the Goloseevsk section of the Ukrainian capital, the company’s President Oxana Makarova notes, quoted by Document Inform. The project, called ITT Plaza, is to be implemented on a 2 ha plot within the next five years. The site on Sports Street is now being acquired. Construction work will follow the process of receiving the building permit, scheduled to be finalized in June 2008. Its preliminary design has already been approved by the City Planning Council and this future mixed-use complex totaling 100,000 sq. m is in the design creation phase.
   The five-tower office and hotel ensemble includes a multi-level parking lot for 800 cars. ITT Invest will partner in the USD 100 to 120 mln project with an undisclosed investor. In May 2008, ITT Invest intends to start demolishing old warehouse premises, located on the project site, while the complex is to become operational in 2011. ITT Invest, together with ITT-Management and ITT-Consult, is part of ITT investment group dealing with asset management, investment consulting and brokerage and investment banking.