Aisi Realty Public Limited

Aisi Realty Breaks New Ground in Kiev

Aisi Realty Public Limited, the Ukraine focussed real estate development fund, announces that it has broken ground on a $31m warehousing and office project near the capital, Kiev.

The project is one of the biggest developments to be undertaken in Ukraine with backing from Western capital and is the first greenfield project financed by Aisi.

Work on the 9.5 hectares site in Brovary, located just 27 kilometres from Kiev and 17 kilometres from the international airport, began with Aisi’s management, the land owners and construction team digging the first turf on 23rd May.

The project involves the creation of 44,000 sq meters of warehouse and office space to international specification with major road and air links to key markets across Europe. The project, due to be completed in March 2009, has already generated considerable interest from local and international logistics operators.

The Terminal Brovary development is the first major investment by Aisi in their portfolio of residential and warehousing projects. Formed in 2005, Aisi Realty is one of the first international companies exclusively to target the property sector in Ukraine.

Commenting on the project, Aisi’s Chief Executive Beso Sikharulidze said: “We are very excited to start work at the Brovary Warehouse, which is already generating a lot of interest from local and international logistics operators. This is a flagship venture and will not only enhance Ukraine’s warehousing and office infrastructure but is also a major vote of confidence in the country’s economic prospects.”

Present from Aisi at the ground-breaking ceremony were Beso Sikharulidze, Helen Maximov, Howard Kelham and Lyubov Rudyuk. Representing the vendors were Lyudmila Akulova, Vladimir Gorenko and Aleksej Gorenko. Linx Construction, who are preparing the site, were represented by Glenn Nobel, Svitlana Bozhko and Andrey Korost.

The First sod is cut on the Brovary site		The plans for the site are discussed

The heavy plant moves in to start the work		How good is the ground?