Dragon-Ukrainian Properties & Development (DUPD), a London-listed property development firm managed by investment bank Dragon Capital, has commissioned the first of three adjoining premium-class condominium buildings in the heart of the capital’s northern Obolon neighborhood.
Called Obolon
Residences, the development is located near the Minska subway station. According
to an e-mailed statement from Dragon Capital, 80 percent of the high-rise
building’s 160 apartments, ranging in areas from 60 to 250 square meters, and all
of the commercial space on the podium level has already been sold.
More than $54
million has been invested so far into the DUPD project, said Volodymyr Tymochko, managing director of
Dragon Capital. The investment bank founded the property developer in February
2007 and today has a minority stake in it.
Forty-three of
the apartments are one-room, 69 are two-room, 43 are three-room, and there are five
duplex penthouses – some of which have access to a private roof-top lounge.
Per square-meter
prices for the second building, according to Dragon Capital, are $1,750-$2,900 depending on the number of rooms and area.
The main entrance to the newly-commissioned first section of Obolon Residences, developed by London-listed Dragon-Ukrainian Properties and Development, a company founded and managed by Kyiv-based investment bank Dragon Capital. (Courtesy)
Several restaurants
and branded shops will be located at the podium level, to which the other two
buildings, 24-26 floors high, will be connected. The first section also has a conference
room, a fitness room, a kid’s playroom, and a laundry room.
The
three high-rises will have a combined area of more than 68,000 square meters.
“And in March 2015, we opened sales (for) the second section which
is currently under construction,” Tymochko said. “Thirty-eight percent of the apartments,
and 22 percent of the commercial premises in the second section have been sold.”
The
frame of the second building has been completed, and commissioning of the development’s
second section is scheduled for the end of 2016. The third section will be
completed in 2018, according to Dragon.
Dragon Capital was established in 2000 by Czech native Tomas
Fiala, who is the majority shareholder. American investment bank Goldman Sachs
bought a small minority stake in Dragon in 2007. Dragon’s investment portfolio
is about $500 million, according to the bank’s website. DUPD has more than $250 million invested in Ukraine’s real-estate market.
Kyiv Post editor Mark Rachkevych can be
reached at [email protected]
