European Future Group, the asset manager and property developer focussed on central Europe, has teamed up with Apollo Real Estate Advisors to develop a E330m (£261m) office park in Kiev, Ukraine.

European Future Group, which is investing on behalf of its Black Sea Enhanced Returns Fund, aims to add the Prolisky Business Park to the E2bn (£1.58bn) of assets it currently manages across Ukraine, Romania, Moldova and Turkey.

The Prolisky Business Park, which will be developed on a site next to the main road from Kiev city centre to the city’s airport, is expected to comprise 1.24m sq ft of offices, 149,620 sq ft of retail and a 64,584 sq ft hotel.

Jeff Kirby, chief executive officer at European Future Group said: ‘EFG identified Ukraine as an exciting and fast emerging economy, where there is substantial demand for new and top quality office and retail developments. Demand is particularly strong in the capital, Kiev.’