Friday, December 29, 2006

New Skyscraper Planned For Capital

KIEV, Ukraine -- A Russian real estate developer has launched construction of Kyiv’s next tallest building, a 44-floor office center flanked by a luxury residential annex, which will cost an estimated $300 million.


Planned Mirax Plaza

Mirax Construction, the flagship company of Mirax Group, which traces its roots to St. Petersburg, broke ground in the capital’s Podil district Dec. 22 and plans to complete all 170 meters of the office center, as part of its Mirax-Plaza by the end of 2009.

Mirax-Plaza will include a business center, a residential complex of 381 apartments, underground and ground-level parking, a recreation zone and a park. The residential annex will feature 24-hour reception service, while the sky-scraping business center will be topped off with a helicopter pad and a restaurant with a panoramic view.

Mirax Group didn’t disclose at what price it would sell space in the new center, saying only that it would return its investment five years after the real estate is commissioned.

With demand for office and living space continuing to increase in the Ukrainian capital, market specialists say the smart thing to do is build up.

“The price of land in Kyiv is growing with each day. The construction of skyscrapers, which take up less land but offer more living and working space, is profitable because of the lower price per square meter,” according to Olena Nehuliayeva, the head of the commercial real-estate department of Planeta-Obolon real estate agency.

Nehuliayeva said class-A space is particularly expensive and thus in high demand, so Mirax stands to make a nice profit building high in the relatively less expensive Podil district.

Russian companies have more experience in building skyscrapers, she added, which made it easier for Mirax to enter the Ukrainian market.

Mirax Construction, which describes itself as one of the Russian capital’s leading builders and developers, claims to have put up over 2 million square meters of business and premium class real estate.

In addition to five edifices that it has erected in Moscow, Mirax is currently building what it has billed as the tallest skyscraper in Europe: the Federation, with a planned height of 354 meters.

Having only registered its Ukrainian subsidiary, Mirax-Invest, last April, the Russian company is launching its first Ukrainian project on a three-hectare plot of land in Podil. Mirax-Plaza will total over 204 square meters of space.

Andriy Kharyv, director of Mirax’s Ukrainian subsidiary, said the time and place for the new building project were right.

“At the moment, there is a serious shortage of Class-A office space in Kyiv,” he said.

Kharyv said his company is also considering other land plots in Kyiv for the construction of residential and office space.

Mirax’s partner in Kyiv is a company called El-Invest, which will act as the project’s general contractor and co-developer, according to Kharyv.

Kyiv’s tallest skyscraper was, until recently, the 28-storey Transport and Communications Ministry, a glass tower on Peremohy Prospekt. A 33-floor business center under construction on Mechnykova Street is currently Kyiv’s loftiest building.

Heorhiy Dukhovichnyi, a vice president of the National Architects’ Union of Ukraine, has his doubts about how high Mirax will be able to build.

According to him, the tallest possible building that Podil district can accommodate is 12-13 floors due to geological conditions. In addition, Dukhovichnyi said, the skyscraper will look strange against Podil’s current low-lying skyline.

Mirax’s Kharyv dismissed such concerns saying “the building site is complicated, but the soil is suitable for the building of such a complicated structure.”

“The price of land in Kyiv is growing with each day. The construction of skyscrapers, which take up less land but offer more living and working space, is profitable because of the lower price per square meter,” according to Olena Nehuliayeva, the head of the commercial real estate department of Planeta-Obolon real estate agency.

Nehuliayeva said Class-A space is particularly expensive and thus in high demand, so Mirax stands to make a nice profit building high in the relatively less expensive Podil district.

Russian companies have more experience in building skyscrapers, she added, which made it easier for Mirax to enter the Ukrainian market.

Mirax Construction, which describes itself as one of the Russian capital’s leading builders and developers, claims to have put up over 2 million square meters of business and premium class real estate.

In addition to five edifices that it has erected in Moscow, Mirax is currently building what it has billed as the tallest skyscraper in Europe: the Federation, with a planned height of 354 meters.

Having only registered its Ukrainian subsidiary, Mirax-Invest, last April, the Russian company is launching its first Ukrainian project on a three-hectare plot of land in Podil. Mirax-Plaza will total over 204 square meters of space.

Andriy Kharyv, director of Mirax’s Ukrainian subsidiary, said the time and place for the new building project were right.

“At the moment, there is a serious shortage of Class-A office space in Kyiv,” he said.

Kharyv said his company is also considering other land plots in Kyiv for the construction of residential and office space. Mirax’s partner in Kyiv is a company called El-Invest, which will act as the project’s general contractor and co-developer, according to Kharyv.

Kyiv’s tallest skyscraper was, until recently, the 28-storey Transport and Communications Ministry, a glass tower on Peremohy Prospekt. A 33-floor business center still under construction on Mechnykova Street is currently Kyiv’s loftiest building.

Heorhiy Dukhovichniy, a vice president of the National Architects’ Union of Ukraine, has his doubts about how high Mirax will be able to build. According to him, the tallest possible building that Podil district can accommodate is 12-13 floors due to geological conditions. In addition, Dukhovichniy said, the skyscraper will look strange against Podil’s current low-lying skyline.

Mirax’s Kharyv dismissed such concerns, saying “the building site is complicated, but the soil is suitable for the building of such a complicated structure.”

Source: Kyiv Post

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