DUPD buys 38 houses in Kyiv region for $12.4 m

Dragon Ukrainian Properties and Development Plc (DUPD), a fund for investing in Ukrainian real estate, has finalized a deal on the acquisition of 38 cottages in a new estate located three kilometers away from Kyiv and 13 kilometers from downtown Kyiv for $12.433 million.

According to a company report at the London Stock Exchange, the estate is located in a forest several meters away from a lake.

The report says that the acquisition is in line with a company investment strategy, which foresees the purchase of finished housing and commercial real estate objects at prices that are lower than market ones.

"After completing this purchase, the company continues looking for the possibility to buy highly profitable commercial real estate with an average level of profitability of 20-25%," reads the release, citing DUPD board chairman Aloysius Van der Heijden.