Kyiv-based GLD Invest Ukraine Ltd., part of Austria's GLD Invest Group, has said that it is expedient to sell completed real estate objects and projects in two or three years, when the market recovers.
"We don't plan to sell assets that we have, such as the West Gate Logistic complex and projects at the development stage. The thing is that today the prices of real estate objects are very low, and we've decided that it's better not to sell them but manage them in the present situation, and in two or three years when the market recovers, then sell them," the company's managing director, Lehr Clemens, said in an interview with Interfax-Ukraine.
He also said that the company does not plan to buy new projects in Ukraine this year.
"We'll consider the purchase of projects only if the prices of objects fall, and if we have a chance to buy land with a large discount," he said.
He noted that GLD Invest Group is considering a chance to buy land plots in Austria to develop hotel projects and in Hungary to develop office projects.
GLD Invest Group is a private Austrian company, which designs, constructs and commissions commercial real estate in Central and Eastern Europe.
GLD Invest Ukraine Ltd. was established in Kyiv in 2004. The company hired over 30 employees in Ukraine.
