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You're reading: Kyiv’s authorities recommending ESTA Holding revise project for reconstruction of Kyiv’s TsUM

The town-planning council at the chief architectural town-planning department of Kyiv will recommend that ESTA Holding LLC, the managing company of the ESTA Group, which was created by CJSC System Capital Management (SCM, Donetsk) to realize real estate projects, take into account remarks and revise a project for the reconstruction of the facade part of Kyivsky TsUM – Kyiv's central department store.

“We have 10 days to phrase the conditions and restrictions on the project. When we issue the conditions, the customer has the right to present the project to the town-planning council again, or not to do this,” Deputy Chief Architect of Kyiv Andriy Kudelin said after the consideration of the project on the reconstruction of Kyivsky TsUM in Kyiv on July 11.

He said that the remarks of the town-planning council are of a recommendatory character, but it is important that the companies that are realizing construction projects in downtown Kyiv present their projects to the council to hear members of the town-planning council and appreciate the general attitude to the project.

ESTA Holding CEO Maskym Hromadtsov said that the company would take into account proposals obtained from the town-planning council during the revision of the project.

During the consideration of the project, experts mainly made remarks regarding the replacement of stone walls of the facade with glass walls and the proposals for an underground parking area for 180 cars.

In addition, some architects, specialists and members of the public expressed doubt that any changes are needed to the historic facade of the department store.

“We should do all possible to retain the facade, which survived [the Great Patriotic War] and remains until today,” Architect Heorhiy Dukhovnychy said.

The manager of the project on the reconstruction of Kyivsky TsUM from ESTA Holding, Andriy Sverchevsky, said that leasing space of the department store would be doubled after reconstruction, to 22,000 square meters.

“The capacity of the store will reach up to 30,000 visitors per day. Specialists said that it could be even more,” he said.

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 the building of internal yard and the use of underground space (three levels). All existing constructions of TsUM, apart of the facade (central entrance, columns and the geison) built in 1939, which will be reinforced and remain unchanged, will be dismantled.

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.

As reported, 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.

TsUM has a total area of around 21,175 square meters, and the area of a land plot where the building is located is 0.475 hectares.

ESTA Holding LLC, the managing company of the ESTA Group 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 2015. On February 1, 2012 TsUM was closed for reconstruction.

In spring 2011, Stolychny TsUM Ltd., part of ESTA Group, finalized the aggregation of assets of Kyivsky TsUM Trading House Ltd. and M-Service Ltd. (all based in Donetsk) in the form of a property complex of the Central Department Store (TsUM).

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 realestate 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 real estate.

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

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