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12:05
UDC HOLDING SLOWS DOWN CONSTRUCTION OF POZNIAKY TRADE AND OFFICE CENTER IN KYIV DUE TO CRISIS

Kyiv, August 4 (Interfax-Ukraine) – UDC Holding, part of Universal Investment Group (UIG, both are in Kyiv) has slowed down the construction of the Pozniaky trade and office center in Datnytsky district in Kyiv due to low demand for offices, UDC Holding Director General Leonid Bohdanov has told journalists.

The construction of the center was started in autumn 2008, he said at a press conference in Kyiv on Tuesday.

According to Bohdanov, if the demand for offices does not improve next year, the center will be commissioned by late 2010.

"We are moving slowly. Unfortunately, the office market has suffered the most from crisis. If the situation on the market improves, if there is demand for offices, we will complete the center by the end of 2010," he said.

The total area of the six-storey Pozniaky center is 7,900 square meters, of which rentable areas occupy 5,000 square meters (offices and stores).

According to Bohdanov, the holding has already signed a rental agreement with a supermarket chain.

"If we have no anchor [renter], we will not construct," he said.

UDC Holding is part of Universal Investment Group and includes enterprises and companies operating in the construction sector.

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