Ukraine Investment Fund, established under the management of Norwegian state investment fund Norfund, is investing approximately NOK 100 million (EUR8.5 million) in the expansion of the M10 industrial park in Lviv, according to a press release from Dragon Capital.
“An important part of Ukraine’s sustainability is supporting the economy. The Investment Fund’s first investment in Ukraine is a good example of how the fund will contribute to this by investing in sustainable businesses and infrastructure projects,” said Norwegian Minister of International Development Osmund Okrust, whose words are quoted in the press release.
According to Norfund CEO Tellef Torleifsson, the investment in M10 will create several thousand jobs.
The Ukraine Investment Fund was established in December 2024 and is managed by the Norwegian investment fund Norfund. The fund intends to support sustainable business and create jobs in Ukraine with a focus on risky projects involving private capital.
As reported, the first building of M10 Lviv Industrial Park in Lviv, which is being implemented by Dragon Capital in partnership with the European Bank for Reconstruction and Development (EBRD), has received the international EDGE certificate.
The M10 industrial park is being built in the industrial zone of the Riasne-2 microdistrict in Lviv, 60 km from the border with Poland. The total area of the site is 23.5 hectares, which allows for the construction of six phases of production, warehouse, and office buildings in accordance with international standards of sustainable development.
The EBRD is a 35% shareholder in the project, and its total investment could reach $24.5 million.
In September 2023, the World Bank’s Multilateral Investment Guarantee Agency (MIGA) provided M10 Lviv Industrial Park with 10-year insurance against military risks.
The first phase of the industrial park, a 14,400 sq m Class A warehouse complex, was completed and commissioned in February 2024. The facility was fully leased by Aurora, one of the leading national retail chains.
Dragon Capital is one of the largest groups of companies in Ukraine, which has been operating in the field of investment and financial services since 2000 and provides a full range of investment banking and brokerage services, direct investments, and asset management.
Dragon Capital Property Management is the management team that manages the company’s commercial real estate portfolio. It manages 25 properties (business centers, shopping and entertainment centers, and logistics complexes) with a total area of 560,000 square meters, making the company one of the largest players in the real estate market in Ukraine.
INDUSTRIAL PARK, Norwegian fund, Ukraine Investment Fund, М10
