CRIMEA – Executive summary

For the first time in recent history a unique real estate development opportunity in a coastal region in Crimea, bordering the Black Sea, known throughout Ukraine, Russia and CIS countries as a primary destination for tourism, is open for direct foreign ownership and investment. Two highly prized tracts of beachfront property, totaling more than one square kilometer have been reserved especially for developers of the United Arab Emirates. Considering the importance of this region and the limited territory available for development any project, such as hotels, resorts or private developments, in this area will experience the same levels of success as early developments experiences in the Dubai real estate sector.

Ukranian Government Policy

Previously lands in Ukraine and in Crimea, in particular, were not readily available to the private sector. As of January 2006 the government allows the private sector to invest directly in properties in designated tourist zones. In order to succeed in promoting foreign direct investment certain overseas promoters, such as Ukraine Trade Centre in the UAE, has been given exclusive rights to promote certain tracts of land to foreign investors in their area.

Tract No.1 – 7,5 million sq. feet – Chernomorskiy region – Tarhankut

The first tract is in Tarhankut, Chernomorskiy District, Autonomous Republic of Crimea, Ukraine. This tract of land is unique in that it is situated on a bluff overlooking a panoramic view of the rugged coastal region. This property is ideal for developments that focus on an exquisite vista and the area is a popular hunting area with large population and variety of wild life. Ideally the area will lend itself to falconry making it attractive as a hunting resort.

Tract No. 2 – 3,3 million sq. feet – Chernomorskiy region – Beljaus

The second tract is on a 200 to 600 meter wide strip on the natural waterfront boundary called ‘Beljaus’ situated between the sea and a large deepwater lake linked to the sea. The lake is ideal for creating a naturally protected marina with direct access to the sea for the largest of sea-going vessels. The ‘Donuzlav’ lake, popularly known as ‘swan lake’, is 22 kilometers long and 3 kilometers wide running adjacent to the sea and is fed by several rivers. The introduction of sweet water and salt water from the sea creates a suitable environment for many species of birds and fish.

Dubai

Tel: +971 (4) 329 8606

Fax: +971 (4) 329 8605

E-mail: ukrtrade@eim.ae

Ukraine

Tel: +38 (044) 235 1392

Fax: +38 (044) 234 4795

E-mail: tradecenter@ukrtrade.info