Sea Gate Development

Land Development

SeaGate begun its operations with several successful opportunistic land development projects, whereby well-located land sites were acquired for or subsequently re-sold to other developers thereby capitalising on Sea Gate's ability to access and execute acquisition opportunities not easily available to the broader market. There are still many great opportunities in the land development segment and SeaGate is constantly looking for such projects along with its investors and development partners.

Residential

In the residential sector, SeaGate has focused its attention on higher margin business and elite segment projects that it will develop on its own. Priority is given to seafront properties that offer maximum price appreciation opportunities to its buyers and represent the least volatile asset group in Odessa as this segment of the customers that seek proximity to sea and beach front living (seasonal and non-seasonal alike) and are least sensitive to price levels as compared with economy segment buyers on the market for primary residence. However, there is a great deal of substantiated demand in the broader residential market as the nearly 12 year long construction slump that followed the collapse of the Soviet Union has left a huge void of unsatisfied demand for people seeking to better their often sub-par living standards.

Encouraged by the nascent but burgeoning home mortgage market, lack of supply, substantial demand and very active primary and secondary market, SeaGate is participating in this segment with several projects for which it has received development rights. SeaGate will develop some of these economy segment projects on its own and some will be realized through joint venture partnerships with large construction companies that are best suited to successfully deliver large scale economy segment residential products in a timely and quality manner.

Retail

The Retail sector offers substantial development opportunities for quality commercial real estate projects as the market in Ukraine, and Odessa in particular, lacks quality and professionally designed and managed retail properties that would meet the requirements of professional western retailers or a sophisticated institutional investor seeking to acquire a Class-A retail properties.

SeaGate has recently acquired a 4 hectare site that currently functions as a marketplace in one of the densest residential communities in Odessa. Sea Gate is currently in the process of acquiring an additional 1.5 hectares of land adjacent to the property to enlarge the overall development site. In parallel, SeaGate is currently working on conceptual designs for retail center with an estimated 25,000 sqm and is actively discussing the project with potential tenants.

Office

At present Odessa does not have a single square meter of Class-A office space. Most supply is made up of Class-B or Class-C premises that are converted and refurbished residential buildings or old administrative buildings. There are only a handful of semi-professionally designed and purposefully developed office centres offering a more professional setting for tenants seeking quality office space, however, none of these have the specifications of Class-A offices. Despite this fact, rental rates in these office buildings can range from $25-$45 per sqm per month.

SeaGate is in the process of negotiating the purchase of a 5-hectare land plot for the development of a multi-phase Class-A office park with a planned gross area of up to 60,000 sqm. The conceptual plan envisages the construction of up to eight stand-alone buildings 5 to 6 levels each in a park-like setting with ground floor amenities to include cafe/restaurants and convenience shops.

OUR PROJECTS