Ukraines coastal capital, Odessa, has lured a EUR 150 million investment from Meinl European Land Ltd., the Austrian company said in a press release.

The trade centre, whose construction is expected to be finalised until late 2008, will spread on 60,000 sq m, the statement adds.

The rate of return on the investment is set to 12 per cent.

This is the first large-scale investment of Meinls in Ukraine. However, it has been considering further investments and has already entered into talks with local developers to discuss potential partnership.

The company is also considering options to invest in the real estate sphere and the construction of trade centres.

Meinl European Land Ltd. is active in investment and development of real estate in a number of countries. At present, the company plans to develop in the Czech Republic, Hungary, Latvia, Estonia, Poland, Romania, Russia, Slovakia, Turkey, Bulgaria and Ukraine.

As of September 30 last year, the company ran 150 projects in seven countries. Its assets totaled EUR 1.233 billion. Revenues from leasing came in at EUR 105 million during in the nine months to September 30, 2006.