Echo Investment plans to construct in Ukraine an office park of the leasable area of approximetaly  100.000 square meters. For approximately 26 million USD the company purchased 100% shares in Ukrainian company YEVROBUDGARANT, which allows to dipose of a property at Diehtiarivska street in Kiev, upon which the project shall be accomplished.

Echo Investment has been present on Ukrainian market since 2007, when two Echo subsidiaries were registered there. According to Piotr Gromniak, the President of the Management Board, the Kiev investment is a result of the adopted strategy, in accordance with which Echo Investment develops its activity on the real estate market in countries of Middle-Eastern Europe. So far the company has commenced investments in Hungary (2006) and Romania (2007). „For several years we’ve been closely watching the situation on Ukraininan market. Our aim was a purchase of an attractive land plot for realization of a commercial project. Attaining this goal was only a matter of time. It was worth to wait - today prices of land properties, the speed of administrative processes and also relations of demand and supply have been verified by the global economic slowdown and have reached levels much more attractive for us.”

The project is to be realized at Diehtiarivska street on a land plot of the area of 4,3 hectares. The area has received a permission of Kiev City Council for purchase of proprietary right to the property.  Designing works connected with the office park shall begin this year. The project’s realization shall proceed in stages, the commencement of construction of the Ist stage is planned for the Ist quarter of 2011 and its completion - for the IInd quarter of 2012.

Waldemar Lesiak  - the Director of Office Projects Department in Echo Investment - said: „Kiev is a very prospective, receptive and fast-developing market. Our offer - almost 100.000 sq. m. of modern office area in a very attractive localization - shall be an answer to expectations of companies planning their development in Ukraine.”