On March, 15th, Kyivrada sold a 20 acres plot in Hreschatik, 5, to Graal, the company belonging to Mikhaylo Tabachnyk, a brother of Vice Premier Dmytro Tabachnyk, for UAH 8.7 mln (EUR 1.34 mln). Opposition deputies, as well as realtors, concurred that the company paid too little.

The developer promises to build a five-star office and hotel complex “Stolichniy”.

Realtors assure that the plot’s location gives the company an opportunity to implement one of the most profitable commercial projects. According to Realtors Association Committee head Oleksiy Kotenko, the high-class hotel segment in Kyiv is far from surfeit. So, Graal’s investments must be repaid very soon, especially, given that the plot was bought not for the market price.

At present Graal seeks for investor to deposit EUR 160 mln in the hotel project implementation.

The source: Rynok.biz