Companies@UA: База компаний Украины

Kyiv, August 6 (Interfax-Ukraine) - Cyprus-based Aisi Realty Public Limited, created in 2005 for investing into Ukraine's real estate market and listed on the Alternative Investment Market (AIM) of the London Stock Exchange (LSE), has cut rent rates for UVK (Ukrainian Cargo Couriers, Kyiv) for A class premises in Terminal Brovary logistics complex (Brovary , Kyiv region) by 30%, according to Aisi.

According to a statement by Aisi on the AIM of the LSE, corresponding changes have been made to an agreement between the companies on renting about 49,810 square meters for 10 years.

"The new rent rate per square meter is about 30% less than the rate indicated in the previous agreement and reflects the conditions dominant on the real estate market," the statement reads.

The sides also agreed Aisi would pay a $3 million fine to the renter for the late commissioning of the object on January 1, 2010, instead of in July 2009.

Aisi Realty Public Limited in 2008 saw a net loss of $13.691 million, while its net profit in 2007 was $2.681 million. The company's net assets last year fell by 28.9%, to $82.5 million.

According to DTZ consulting company, the value of the company's project portfolio as of December 31, 2008, was $64.8 million, which was 27.9% down on the indicator on June 30, 2008, and 32.2% up compared to the indicator as of December 31, 2007.

The company's portfolio includes three residential real estate projects in Kyiv and two warehouse property projects (Terminal Brovary and a property 15 kilometers from Odesa).