Vagif Aliyev intends to buy the SEC Ocean Plaza by autumn

Businessman Vagif Aliyev is planning to close the deal on SEC Ocean Plaza acquiring by the autumn and to merge it with the SEC Ocean Mall under construction.

He reported about it during a retail-tour to another SEC – Blockbuster Mall – which being built by his development company. “Until the autumn, I am planning to close the deal on Ocean Plaza and to merge two SEC’s into one complex with ​​400,000 sq. totals” – Vagif Aliyev said.

Recall, that Ocean Plaza with​165,000 sq. square, located on Antonovich str., is one of the largest SEC in Kiev. The Companies Ukrainian Development Partners (UDP) and “K.А.N. Development” were originally engaged in its construction; among the investors were Vasily Khmelnitsky, Andrey Ivanov and Vagif Aliyev.

The Russian edition Kommersant was the first to announce Aliyev’s interest in the shopping and entertainment center. Now Ocean Plaza is owned by TPS Nedvizimost, which bought the project in 2012; the transaction amount was estimated at $ 280-350 million. The Arcady Rotenberg daughter and a number of people with Russian roots are the company’s owner. The TPS Nedvizimost began to look for buyers at the SEC Ocean Plaza after the annexation of the Crimea and the Kremlin’s support of pro-Russian separatists in certain districts of Donetsk and Lugansk regions.

Last summer, the possibility of the object acquiring was considered by Dragon Capital, Ukraine’s largest investment company, but the parties could not agree on the terms of the deal. The Ocean Plaza cost is now $ 270-315 million according to estimates by Alexey Vanchugov, the “Vanchugov and Partners” managing partner.

Vagif Aliyev is one of the richest Developers in Ukraine. The magazine “Novoye Vremya” estimated the businessman state at $ 296 million. There are shopping centers Lavina Mall, Blockbuster Mall and Ocean Mall in his company’s Mandarin Plaza portfolio.  The Ocean Mall is located next to Ocean Plaza and was originally conceived as its second line. Design work is underway on a number of facilities: previously Aliyev announced his intention to build the whole chain of 10 megamolls in Kiev.

After 2020, he also is planning, according to him, to start the large SEC’s development in the regions of Ukraine. As Aliyev stated, he intends “to open SEC with ​​300,000-350,000 sq. totals in every major city in the country”.

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