Kazakh real estate developer Chagala Group has acquired a 3.4-hectare site in Aktau, in Western Kazakhstan, to develop two 2000 m[sup]2[/sup] warehouses. 'Demand in the region continues to be very strong and the purchase of this land will help us satisfy the ever growing demand from our oil and gas clients,' CEO Tim Abson said in a statement. Financial details of the transaction were not disclosed. The company said it expects lease agreements on these properties to be finalised in the third quarter of this year and construction to be completed in the second quarter of 2008.
Kazakh real estate developer Chagala Group has acquired a 3.4-hectare site in Aktau, in Western Kazakhstan, to develop two 2000 m2 warehouses. 'Demand in the region continues to be very strong and the purchase of this land will help us satisfy the ever growing demand from our oil and gas clients,' CEO Tim Abson said in a statement. Financial details of the transaction were not disclosed. The company said it expects lease agreements on these properties to be finalised in the third quarter of this year and construction to be completed in the second quarter of 2008.
