The Kyiv Administration has allocated four plots of land for construction of residential real estate and announced a competitive bid for investors. A mandatory condition of the investment bid is the allocation of a part of the building to those affected by the 'Elita Center' scheme. The percentage dedicated to the affected investors will be the subject of the competitive bidding.

The competition is organized by Kyiv City Administration's Department of Economics and Investment. Construction is commissioned by the Kyiv Investment Agency. As the commissioner, the Kyiv Investment Agency undertakes the responsibility to provide investors with all legal documents for the use of the land.

The plots offered are located in:

• Darnytsky district on Zdolbunivska Street (1.9 hectares)

• Desniansky district on Miloslavska Street (0.524 hectares) http://www.investinkyiv.org/uk/projects/budivnitstvo-zhitlovogo-budinku-sotsialno-pobutovogo-priznachennya-ta-pidzemnimi-parkingami-za-adresoyu-miloslavska-vul

• Solomiansky district in Platonovskiy Lane (0.2538 hectares) http://www.investinkyiv.org/uk/projects/budivnitstvo-zhitlovogo-budinku-sotsialno-pobutovogo-priznachennya-ta-pidzemnimi-parkingami-za-adresoyu-platonivskiy-prov

• Holosiyivsky district in Marshal Jakubowski Street (0,256 hectares) http://www.investinkyiv.org/uk/projects/budivnitstvo-zhitlovogo-budinku-sotsialno-pobutovogo-priznachennya-ta-pidzemnimi-parkingami-za-adresoyu-marshala-yakubovskogo-vul-2-g

The technical and economic parameters of the project, the total area of the land plots concerned is over 95000 m² and the total investment amounts to approximately $835million.

Commenting on the announcement, Oleg Mistuque, Chief Executive of Kyiv Investment Agency, said:

"Although the construction market is not currently experiencing the best of times, largest real estate companies are in constant contact with us seeking good sites for developing residential housing of economy and comfort classes. Our task today is to expand the circle of participants with medium-sized but dependable and financially stable local developers".

Kyiv Investment Agency also noted that an additional attractive feature for the bid is absence of risk related to stopping work for administrative reasons. The Agency takes it upon itself to accompany and coordinate all processes of interaction with the city administration, resolving organizational problems in the shortest possible time.

A package with a detailed description of the bid and its conditions is available at the Kyiv City Administration's Department of Economics and Investment, located at 36 Khreschatyk Street, 6th floor, room 620. Contact details: 202 7678, 202 7934, 202 7291 (from 10 a.m. to 4 p.m. Monday through Friday) following a registration payment.

The Kyiv Investment Agency is a municipal company and executive body established by the Kyiv City State Administration.

OUR MISSION:

To develop the investment potential of the city, spur on budget growth and ultimately improve Kyiv for its citizens and guests. Our primary focus is on socially-significant infrastructure and regeneration projects. We support concrete investment proposals through establishing effective cooperation between the public and private sectors, as well as investment and financial institutions.

OUR VISION:

To become the single window of interaction between the city authorities and the investor, offering consultation support and monitoring performance to ensure a transparent and fruitful investment process for all sides involved.