LONDON, December 5, 2016 /PRNewswire/ --
Businesswoman and philanthropist Yelena Baturina is launching a new construction and development project in Europe. This November, her structures acquired a land plot on the coastline in a primary area of Limassol, Cyprus, that is intended for constructing high-end residential properties. The overall investment into the project will amount to EUR 40 mln and the completion of the construction is planned for 2019. The next stage will be holding a tender for the architectural design of the future development. Earlier this year another of Yelena Baturina's development projects was launched in New York. Her US company acquired a set of commercial buildings of 1500 square meters in central Brooklyn, next to the Barclay's Center. The initial investment amounted to USD 10 million. The company is considering applying for permissions to transfer the land they are located on to a category suitable for residential construction so that a large-scale development project can be realised.Yelena Baturina moved her business headquarters to Europe in 2011, after selling her main Russian asset, the construction company Inteco. Since that time, she has been engaged in a number of successful commercial endeavours. At present her assets include a network of hotels (Ireland, Austria, the Czech Republic and Russia), a membrane construction enterprise (Germany), a renewable energy project (Greece and Italy), and investments in number of real estate investment funds focused on residential and commercial construction and development in the UK and US.
