The Dutch auction of the right to sell the unfinished Sky Towers complex in the center of Kiev by the state-owned Ukreximbank failed due to the lack of bidders.
According to the SETAM website, the starting price of the lot was UAH 5.58 billion.
As previously reported, the Sky Towers on the Pobedy Avenue, 13 could become the first Ukrainian skyscraper higher than 200 m (the project height of 214 m). The construction was carried out up to 2015, but reached 28 floors with a design height of 47, then it was stopped. According to the director of the development company “Agency for Office Construction” Alexander Demin, preservation of the object was not carried out.
Credit agreement with Ukreksimbank was concluded in 2007. In May 2012, the KDD Group, which has fallen into a difficult financial situation, signed an agreement to sell the American Cimbrorum Holdings LLC for $ 202.4 million project Sky Towers and the residential complex “Zazimye. Of this amount, KDD was to receive $12 mln in cash, while the rest was obligations, including $168.4 mln to Ukreximbank. At the same time, the bank increased the credit line for the completion of Sky Towers to $193 million, and the borrower was the Office Construction Agency.
In 2019, the parties signed a financial restructuring plan, but the developer continued to default. The Economic Court of Kyiv in early 2021 satisfied the claim of Ukreximbank to recover from the Agency of Office Construction 5.95 billion UAH of the debt on the loan to finance the construction of Sky Towers.
According to the data from the Unified State Register of Legal Entities and Individual Entrepreneurs, the founder of the “Office Construction Agency” LLC with the registered capital of 442 million UAH is the American “Taccadero Trading Limited”, the ultimate beneficiary is named David Israel.
Ukreximbank was founded in 1992, and the only owner is the state.
According to the National Bank of Ukraine, as of November 1, 2022 Ukreximbank in terms of total assets ranked third (267.423 billion UAH) among the 67 operating in the country.
