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Ministry of finance supported a law about property tax introduction from 2009 - 2008. Aug 05. 17:08:28

Ministry of finance supported a law about property tax introduction from 2009

Ministry of finance supported a law about property tax introduction from 2009. As was reported by head of the department Victor Pynzenyk on a conference call and passed by RBК-Ukraine.

According to his words, the indicated law was taken to parliament by deputies and foresees complete freedom of local power in establishment of property tax rates, and also orders of its exception. In Victor Pynzenyk’s opinion, passing this act will allow to provide filling of local budgets with a resource, necessary for the development of cities and villages.

Results of investigation towards the involvement of judges to the land frauds in Lviv must be performed to September, 1 - 2008. Jul 16. 11:07:33

Results of investigation towards the involvement of judges to the land frauds in Lviv must be performed to September, 1

 On July, 10 at the meeting, a committee of Supreme Council of Ukraine on questions of fight against the organized crime and corruption examined the points about wilful fascination of 15 plots of land in Lviv with the purpose of petrol station construction and illegal fascination of 350 ga of Bryukhovitskikh lands and made a decision – to appeal to Committee of Supreme Council on questions of justice to check up the actions of judges of all levels, participating in the illegal decisions. If the facts of violation of their oath are discovered, judges will be released from the hired position.

To September, 1 the representatives of Committee on questions of justice must report about the accepted measures in relation to land frauds investigation. As it wa reported on July, 15 during a press-conferenc by Vira Lyaskovska, the head of deputy commission of environment guardiance and equipping with modern amenities of Lviv town council.

Real estate world investments in 2008 will go down for 30% - 2008. Jul 15. 11:07:09

Real estate world investments in 2008 will go down for 30%

Such prognosis is given by a leading consulting company DTZ in area of the real estate.

The volume of real estate capital market attained $12 trln in 2007, that is 18% more than in 2006. This information is published in the annual lecture of DTZ. The volume of investment transactions attained $730 milliards last year, however in 2008 the specialists of DTZ forecast a 30-percent slump to $500 milliards. In the first quarter 2008 the volume of direct transactions was abbreviated as compared to the same period of 2007.

Questioning showed that 62% people, accommodating their facilities into real estate in 2008, expected  an increase, and the respondents from Europe, Azia and Pacific ocean region is far optimistic than Americans.On the average, respondents wait for a 4-interest feedback of an income, and investors from the Azia and Pacific ocean region would like to get 10%.

56% investors plan to multiply their position in Asia, and 15%, vice versa, want to be delivered out of the Asia property climate. China becames the most attractive market for investing, at the same time Japan, Australia and Singapore lost in attractiveness to such countries, as Vietnam and Indonesia.

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Mortgage crisis is not an obstruction for commercial real estate - 2008. Jul 14. 11:07:40

Mortgage crisis is not an obstruction for commercial real estate

Mortgage crisis was not reflected in the commercial real estate sale size.

The processes, which occur on the market of housing real estate (decrease of the crediting volumes), recently led to the essential reduction of a quantity of real operations of purchase-sale, UNIANE reports with the reference to the analyst of the company "Ticko-construction" (Kyiv) Olexander Marchenko.

As a result of this the accessibility of the mortgages, which were the basic source of housing real estate purchase, decreased sharply to 70% of operations.

However, in the analyst’s opinion, since the commercial real estate market is oriented to another purposeful audience, crisis phenomena proved to be seen at present only in certain increase of the credit resources cost, which are drawn by development companies for the realization of projects.

"In other words, despite of the unpredictability and the opacity of our market, this segment has sufficiently steadfast "immunity".

Moreover, the positive dynamics of economic growth in Ukraine gives hope for the subsequent development of the market and, correspondingly, an increase in the demand of the commercial real estate objects, which is to a considerable degree dissatisfied practically in all its segments”, he explained.

According to Marchenko’s data, in office real estate segment the total dissatisfied volume of demand for the professional office accomodations comprises not less than 1 mln. sq. m., whereas the total volume of proposal is about 800 thousand sq. m.

Thus in commercial real estate segment the proposal of professional commercial areas is about 420 thousand sq. m., whereas demand on them is 900 -1000 thousand sq. m.

For the development of its hotel projects Ukrainian Hotels coopereated with Sophos Hotels S.A. - 2008. Jul 10. 16:07:42

For the development of its hotel projects Ukrainian Hotels coopereated with Sophos Hotels S.A.

The company Ukrainian Hotels, which enters the corporation " Astron Ukraina", concluded a contract with the Swiss controlling company Sophos Hotels S.A.  The press service of the company reports. This agreement became on-duty step in the realization of the development project in Ukraine of 15 hotel network under the brands of Ramada Encore, Ramada, Ramada Plaza. Project started in November in 2007; after acquisition of rights for openning Ramada network in Ukraine by the corporation "Astron Ukraina" from one of the greatest world hotel operators, company Wyndham Hotel Group.

The company Sophos Hotels S.A appears leading manager in Switzerland and was selected by Wyndham Hotel Group for controlling process of determination of Ramada in East Europe and CIS. On the territory of Ukraine Sophos Hotel S.A will be occupied by the preparation of projects, by their starting, marketing, and also by direct management of new hotels in the interests of the company "Ukrainian Hotels".

The executive director of the company "Ukrainian Hotels", Vladislav Vezhnin, stated: "in the process of selection for its hotel projects the corporation "Astron Ukraina" pays main attention to the quality of work and European reputation of the potential aspirants”. Specifically, after these criteria the Swiss company Sophos Hotels S.A. was selected, the company faces upon the long-standing collaboration after the signing of exclusive agreement, which took place already".