Vicus Limited a Finnish real estate investment company expands its activities in Russia, Ukraine and the Batics. The company has increased the size of its real estate fund and aims at investing more than €200 million in Russian, Ukrainian and the Baltic real estate markets by the end of 2007.
Founded in spring 2005, Vicus has already made its first investments in Estonia and Latvia. In Pärnu, Estonia, Vicus has had production facilities constructed for a Finnish electronics company. In Riga, Latvia, Vicus is having a logistics centre constructed for an international logistics company.
In Russia Vicus has signed a letter of intent on the acquisition of a land plot of more than 100 ha in Northwestern Russia. The St. Petersburg area is a prominent investment target with many Finnish companies aiming to establish operations in the area.
In December 2005, Vicus made its first investment in Ukraine, where the company became a shareholder in a logistics centre to be built in the Boryspil region nearby Kiev. The approx. $24 million project is being developed in cooperation with Eurocon Ukraine, a part of an Estonian construction company called Eesti Ehitus.
Vicus investment plans are targeting primarily retail, logistics and industrial property.