SCM Buys Real Estate at One Hyde Park (London) as Portfolio Investment
By System Capital Management, PRNEMonday, April 25, 2011
DONETSK, Ukraine, April 26, 2011 - SCM decided to enter the real estate sector in 2006. In 2006-2007 we were
building our real estate portfolio in Ukraine and internationally following a
set of fundamental criteria:
- singularity of the property (including its location)
- the potential to grow in value.
SCM bought the property in London at the One Hyde Park residential
development in 2007 as a portfolio investment. Over the past four years the
asset showed a steady annual 5% rise in the value even during the global
financial crisis when the real estate was losing value everywhere in the
world including Ukraine. Experts suggest that the asset will increase in
value over the next few years. SCM believes that the investment in the London
property has been very successful and views the policy of diversifying the
real estate portfolio as effective.
As to the transaction details, the parties agreed not to disclose this
information.
Profile:
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.
The SCM Group includes Metinvest Holding, DTEK, Vega telecommunications
group, Segodnya Multimedia, TRK Ukraina, ESTA Holding, Ukrainskiy Retail,
Mining Machines heavy engineering holding and others.
SCM is 100% owned by Ukrainian businessman Rinat Akhmetov.
Press office of SCM tel: +38-062-381-50-37 fax: +38-062-381-50-55 press at scm.com.ua
Tags: April 26, Donetsk, System Capital Management, Ukraine