You're reading: ESTA Holding to start dismantling TsUM building, leaving main facades

ESTA Holding LLC, the managing company of ESTA Group created by SCM (all based in Donetsk) to implement projects in real estate, is to start dismantling the building of the Kyivsky TsUM, Kyiv's central department store, with the building being taken to pieces, apart from main facades at Khreschatyk and Bohdana Khmelnytskoho streets, reads a press release of the company.

The press release says that metal structures will be installed to maintain the facades for the whole period of reconstruction. In addition, at this stage, external networks will be removed outside the construction site.

The company said that the blueprints of this stage of reconstruction were approved by Ukrderzhinvestekspertyza.

As reported, in October 2012 the project on the reconstruction of Kyivsky TsUM with the restoration of its facades was discussed by members of the advisory council at the chief department of cultural heritage protection at Kyiv City Administration. They positively assessed the project.

Earlier ESTA Holding Director General Maksym Hromadtsov said that ESTA Holding decided to retain unchanged and restore the facades of Kyivsky TsUM during the realization of a project on the reconstruction of the building.

Specialists of Germany’s Strabag construction firm are performing the work.

The typical elements of the TsUm’s decoration, such as marble stairs, were dismantled and will be used later in the decoration of the reconstructed department store.

After the reconstruction, ESTA is planning to increase the gross area of the department store by 1.8 times, to 38,780 square meters, thanks to building an internal courtyard and using underground space (three levels). All existing constructions of TsUM will be dismantled, apart from the facade (central entrance and columns) built in 1939, which will be reinforced and remain unchanged.

The seven-floor TsUM, with three underground levels, will retain a traditional department store format.

Men’s, women’s and children clothes stores will be located on the first-sixth floors, while a roof with a terrace will have restaurants. The parking area will be located on the two underground levels and a supermarket will be located on the first underground level.

The architectural concept for the renovated TsUM was designed by the famous UK design bureau Benoy, in partnership with Ukrainian architects from the L. Skorik bureau.

ESTA Holding LLC is planning to invest over $100 million in the reconstruction of Kyivsky TsUM. ESTA Holding will manage the building.

ESTA Holding LLC is planning to finish the reconstruction of Kyivsky TsUM by autumn 2014. On February 1, 2012, TsUM was closed for reconstruction.

ESTA Holding is a managing company of the ESTA Group, SCM Group’s real estate holding. ESTA Holding is an investor and developer, and carries out strategic management of commercial, hotel real estate and housing.

SCM is a professional investor that owns and controls assets in mining and metals, power generation and distribution, telecommunications, banking, insurance, media as well as in retail and realestate.

SCM is 100% owned by Ukrainian businessman and MP Rinat Akhmetov.