DUPD fund increased its revenue from residential real estate sales
Revenues of the British investment fund Dragon-Ukrainian Properties and Development (DUPD) from residential real estate sales in Ukraine in 8 months of 2014 amounted to more than $7 million which is 89% more than for the same period of 2013.
According to the new investment policy of the Fund, adopted in February 2013, DUPD focused on further development of cottage communities Riviera Villas and Green Hills (Kiev region), and construction of a residential complex Obolon Residences in Kiev .
«DUPD continues to develop its projects on suburban real estate and build a residential complex Obolon Residences without any delay. Of course, we as developers were affected by the negative impact of a difficult political and economic situation in property sales markey, says Evgeny Baranov, Partner at Dragon Capital, the managing company of DUPD. At the beginning of the year we have seen a drop in demand, especially in the suburban real estate, but after the election of Ukrainian President, the interest in this segment of property resumed, and we are seeing an increase in consumer interest in our two projects of suburban real estate – Riviera Villas and Green Hills».
Evgeny Baranov also said: "In total revenue from the sale of DUPD property for 8 months of this year, most of the revenue came from the sale of apartments in our residential complex Obolon Residences. We believe that such trend is natural, as the demand for homes has always been lower than for apartments, and in times of crisis this trend is even more pronounced. Successful implementation of our projects, even in such a situation indicates that our strategy to create exclusive projects with a focus on infrastructure and quality of the final product was brought to life quality and perceived by our customers".
DUPD shares listed on the London Stock Exchange since June 2007. DUPD is the only public company in the real estate market of Ukraine which is not burdened with loans, owns a substantial amount of money and has not stopped its projects despite the crisis.