Business news from Ukraine

Business news from Ukraine

Oschadbank sells Atmosphere shopping center and Ramada Encore Kyiv hotel for UAH 1.79 bln

14 March , 2024  

State-owned Oschadbank (Kyiv) has put up for sale the Atmosfera shopping mall and Ramada Encore Kyiv hotel in the capital, 11 land plots in Kozyn (Kyiv region) and the right of claim to Niteko LLC for UAH 1.79 billion through the OpenMarket electronic trading system (SE SETAM of the Ministry of Justice of Ukraine).

According to SETAM’s press service, the lot includes real estate in Kyiv at 103 Stolichne Shosse (buildings 1-4). They include an administrative and hotel center with an area of 39.5 thousand square meters, a shopping and entertainment center (31.6 thousand square meters) with a parking lot (16.8 thousand square meters), a two-level parking lot (17.5 thousand square meters) and other premises.

In addition, the lot also includes 11 land plots in Kozyn with a total area of 17.3 hectares for residential construction, as well as the rights to claim against LLC “Company Niteko” under the 2007 non-revolving credit line agreement, including the assignment of rights under security agreements.

“The well-known Kyiv shopping center and hotel are located at the intersection of three major highways towards the elite villages of Obukhiv district and Koncha Zaspa, so they are well served by traffic. This offer may potentially be of interest to major market players,” the press service quoted Oleksandr Mamro, CEO of SETAM, as saying.

The auction is scheduled for March 25. The guarantee fee is UAH 89.9 million.

According to Opendatabot, the owner of Niteko is FC NGI Management LLC, and the ultimate beneficiary is Dmytro Buriak. At the end of 2023, the company reduced its net loss by 4.9 times compared to 2022 – to UAH 70.2 million, while net income increased by 69% to UAH 146.2 million.

As reported, Wyndham Hotel Group (WHG) opened its largest four-star hotel under the Ramada Encore brand in June 2012 as part of the Stolychnyi mixed-use complex (formerly Domosfera) at 103 Stolychne Shosse in the Holosiivskyi district of Kyiv.

The 22-storey hotel has 332 rooms and 58 apartments. The hotel’s infrastructure includes a conference center with a total area of more than 4 thousand square meters with 20 meeting rooms, a two-level parking lot for 1150 cars, two fitness centers, restaurants, a sushi bar and a summer terrace. The hotel is managed by DBI Hotels & Resorts (Switzerland).

The Atmosfera shopping and entertainment center (SEC) in Stolychny was opened on April 12, 2014. The mall has about 50 premium shops and boutiques, a food court, an entertainment area, a karting center, a fitness center, a cinema with restaurant service and an event hall with 800 seats.

The developer of the Stolychnyi mixed-use project is DeVision Group. The mixed-use complex also includes Domosfera shopping center with a leasable area of 30.7 thousand square meters, opened on May 16, 2009, and Europe business center of B+ class with a total area of 22 thousand square meters and parking for 300 cars. The total area of the mixed-use complex is 158.2 thousand square meters.

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