You're reading: Investment in second phase of Ocean Plaza to be $200-230 million, project to be completed in 2014

The cost of the construction of the second stage of the Ocean Plaza trade and entertainment center, with a total area of 150,000-160,000 square meters at 176 Horkoho Street in Shevchenkivsky district in Kyiv, will amount to $200-230 million. 

“The volume of investment [in the construction of the second stage] will be about $200-230 million,” the head of the board of directors of Ukrainian Development Partners (UDP, Kyiv), one of the partners of the project, Andriy Ivanov said at a press conference on occasion of the official opening of the center in Kyiv on Friday.

According to him, the start of the second phase construction is scheduled for 2013.

“We plan to start [the project implementation] after the New Year holidays and finish in 2014,” said Ivanov.

The total area of a land plot allocated for the project exceeds six hectares.

The partners of the project are UDP, K.A.N. Development (Kyiv) and TPS Real Estate (Moscow, Russia). The Ukrainian Trade Guild consulting company (UTG, Kyiv) is the exclusive broker of the project and the designer of the concept.