The Perfect Group plans to launch its own apartment renovation program for homebuyers in October 2026 and intends to import some of the finishing materials for the program directly from China.
The “7 KVARTAL” residential complex will serve as the pilot project, Perfect Group CEO Oleksiy Koval said in an interview with Interfax-Ukraine. The company is also discussing with banks the possibility of offering loans for apartment renovations.
One of the reasons for launching the program was the sharp rise in the cost of construction work and a shortage of renovation crews. According to the developer’s estimates, labor costs today can account for half the cost of renovations or even exceed the cost of materials.
To reduce costs, Perfect Group has reviewed offers from building materials manufacturers in China and is already arranging its first shipments.
In particular, the company intends to use HPL-like panels, which eliminate the need for some traditional processes such as plastering, wall preparation, painting, or wallpapering. According to the developer’s calculations, this solution should reduce renovation time and costs.
The company is also considering importing other construction products from China, including certain types of rebar and facade solutions. At the same time, Perfect Group believes it is more appropriate to source tiles, laminate flooring, and interior doors from Ukrainian manufacturers.
The group’s in-house production is currently focused primarily on aluminum and metal-plastic windows. Looking ahead, the company also does not rule out launching the production of cabinetry.
Perfect Group has been operating in the Ukrainian real estate market since 1991.
The cost of construction work and materials in Ukraine has risen by approximately 30% since the beginning of 2026, with the labor shortage remaining the main factor driving up prices, according to Oleksiy Koval, CEO of Perfect Group.
According to him, labor costs are rising the fastest, followed by construction materials in terms of the rate of increase. However, this estimate of approximately 30% growth does not account for the additional impact of currency fluctuations and indexation.
The cost structure for apartment renovations has also changed. Before the full-scale war, materials accounted for about 70% of renovation costs, while labor accounted for 30%. Now the ratio is closer to 50/50, and in some cases, the cost of labor already exceeds the cost of the materials themselves.
The labor shortage affects more than just finishing work. Developers are having difficulty finding concrete workers, crane operators, and other skilled professionals.
Another factor driving up costs during the fall and winter months may be the expenses associated with providing autonomous power supply to construction sites. During power outages, interior construction work requires the use of diesel generators; accordingly, costs depend on the price of fuel.
Perfect Group already includes generators and uninterruptible power supply systems in the budgets for new projects. Looking ahead, the company is also considering the use of solar panels and gas generators.
According to Koval’s assessment, there are no signs of a slowdown in the growth of construction costs yet.
Perfect Group has been involved in residential and commercial real estate in Ukraine since 1991.
CONSTRUCTION, cost of construction, LABOR, REAL ESTATE, UKRAINE
Ukrainian developers need access to project financing, and securing bank or international loans covering 20–30% of a project’s cost may be sufficient to begin construction, according to Alexei Koval, CEO of the Perfect Group.
As Koval stated in an interview with the Interfax-Ukraine news agency published on September 1, 2026, the financing model for residential construction in Ukraine has changed significantly since the start of the full-scale war. Whereas before 2022 a developer could invest about 10% of its own funds, receiving up to 90% of the resources from buyers, now self-financing at the initial stage can reach 60%.
According to him, Perfect Group is conducting negotiations through its representatives with the European Bank for Reconstruction and Development. European financial institutions are prepared to consider lending to the Ukrainian private sector at interest rates ranging from 6–8% in euros; however, for affordable housing projects, a rate of 3–4% would be more acceptable.
The company believes that loan financing amounting to 20–30% of the project estimate could make it possible to begin construction, after which mortgage programs, including “єОселя,” could be brought in to finance the project.
Koval also noted that the introduction of escrow accounts for homebuyers without the simultaneous creation of a project financing system for developers could lead to a shortage of resources for launching new projects.
According to his estimates, the profitability of development projects in Ukraine under normal conditions is comparable to that in Europe and stands at about 18–20%.
Perfect Group was founded in 1991. According to the company, over the course of its operations, the group has commissioned more than 110 buildings comprising over 20,000 apartments with a total area of more than 1.5 million square meters.
According to Fixygen, the German Ministry of Finance has drafted a proposal to reform the taxation of crypto assets, which would introduce a 25% tax rate on profits from the sale of Bitcoin, Ethereum, and other cryptocurrencies, regardless of the length of time the asset was held.
The corresponding draft bill is in the early stages of approval within the federal government, Handelsblatt reported on September 9, citing a document obtained by the publication. Germany currently remains one of the most attractive major European jurisdictions for long-term private investors in cryptocurrencies. Under current rules, profits from the sale of crypto assets held for more than one year are generally not subject to income tax. If an asset is sold within 12 months of purchase, the profit is classified as a private sale of property and taxed at the taxpayer’s individual rate. This procedure was confirmed by official clarifications from the German Ministry of Finance on March 6, 2025.
The new model is expected to fundamentally change this approach. It is proposed to reclassify crypto assets from the category of private property transactions to the category of capital gains and tax them similarly to profits from stock transactions. The base rate of the Abgeltungsteuer will be 25%. Taking into account the solidarity surcharge, the effective tax rate could reach 26.375%, excluding any potential church tax.
The proposed rules would apply only to cryptocurrency acquired after December 31, 2026. For Bitcoin, Ethereum, and other assets purchased earlier, the current tax regime is expected to remain in place.
The bill calls for the new rules to take effect on January 1, 2027. However, automatic tax withholding by German cryptocurrency service providers is planned to be introduced only on January 1, 2028, to give platforms time to restructure their accounting systems.
The Ministry of Finance estimates that the rule change will generate approximately EUR 160 million in additional tax revenue for the budget in 2028. In subsequent years, the amount is expected to increase and, according to the ministry’s calculations, reach approximately EUR 350 million in 2030.
The reform will effectively eliminate the main tax advantage of long-term cryptocurrency ownership in Germany. It will no longer be sufficient for an investor to hold Bitcoin or Ethereum for more than a year to fully exempt the profit from the sale from taxation.
However, a final decision has not yet been made. The Ministry of Finance’s draft is in the early stages of interagency coordination, after which the document must undergo further review by the government, the Bundestag, and the Bundesrat.
Separately, Germany is already increasing tax transparency for transactions involving digital assets. In November 2025, the Bundestag approved the implementation of the European DAC8 Directive, which requires crypto service providers to report information on certain customer transactions to tax authorities.
On September 6, the first all-Ukrainian conference, Ukrainian Padel Expo, took place at the UNIT.City Innovation Park in Kyiv. The central theme was padel—its development in Ukraine, prospects for popularization, the creation of club infrastructure, business opportunities, investments, audience engagement, technology, and making the sport an accessible activity for a wide range of people.
The event was organized by the Ukrainian Padel Federation, Sport Business Media Agency, and the UNIT.City innovation park. Nearly 750 participants attended the event.
The sports partner for the event was Barto Padel Space. This is a modern padel club in the center of Dnipro, which opened in May 2026. Barto Padel Space also features a stylish bar and a specialty store where you can find everything you need for playing and relaxing.
The health partner of Ukrainian Padel Expo was Biopell—a systematic approach to energy, recovery, focus, and longevity through peptide therapy, modern biohacking, and personalized protocols under medical supervision. The company recently launched the BIOPELL PADEL CLUB—a community of people who play padel, stay active, and stay one step ahead.
The event’s exhibition area partner was the real estate developer RIEL, which presented its new residential complex Sister, featuring sports infrastructure. Its architectural highlight is a mix of building heights with an emphasis on low-rise structures, creating a cozy atmosphere of privacy.
Guests were treated to refreshments by: sparkling wine partner Serena 1881, VIP Lounge partner Eurasia, and coffee partner Sky Coffee.
The first to speak was the president of the Ukrainian Padel Federation, Oleksiy Dniprov. At the beginning of his speech, he conveyed greetings to the audience from the president of the International Padel Federation, Luigi Carraro, and read his message.
Oleksiy Dniprov invited the audience to discuss the future of padel and how to establish a trend today that will yield results in the future. During his speech, he announced the creation of the Ukrainian Padel Club League. All clubs signed a declaration establishing the league. This became part of the Ukrainian Padel Federation’s strategic vision through 2030.
The event also featured a presentation of the trophy that the League champion will receive.
The Development and Prospects of Padel
Next was a panel discussion titled “The Development and Prospects of Padel”. Participants included Vadym Gutzeit (National Olympic Committee of Ukraine), Andriy Vitrenko (Ministry of Education and Science of Ukraine), Vasyl Prodan (Ukrainian Padel Federation), Ilya Shevlyak (Sports Committee of Ukraine), and Anton Nikulin (Sports Office of the Lviv City Council). The moderator was Oleksiy Braga (Sport Business Media Agency).
Vadym Gutzeit described padel as a sport that brings people together. He noted that in 2027, Istanbul will host the European Games, where padel will be featured as a non-Olympic sport. According to him, it is a sport that is rapidly growing worldwide and will be included in the competition standings. Mr. Gutzeit said he believes it is possible that padel could become an Olympic sport as early as 2032.
Anton Nikulin spoke about the great prospects and ambitious plans for the development of padel in Lviv. Ilya Shevlyak described the rapid growth of padel not merely as a trend, but as the result of the efforts of fans who love the sport. According to him, it is also the result of the work of the sport’s teams within federations that have clear goals and priorities.
Andriy Vitrenko stated that they will promote padel for inclusion in the Side by Side project to hold competitions among schoolchildren and college students. There are also plans to try to organize access to courts for young people.
Vasyl Prodan spoke about the level of development of padel in Ukraine. He noted that it is currently difficult to develop the sport during the war, invest in it, and promote it. According to him, padel in Ukraine is in the development stage, and the country’s results, compared to nations where there is peace and a better economic situation, are actually quite good.
Padel as a Business Environment
A separate panel discussion was dedicated to the topic “Padel as a Business Environment: Why Sports Become Part of People’s Lives”.
Participants included Valery Shamotiy (Bartolomeo), Yevgen Mushkin (VDNG), Anton Ivanov (FC “Kharkiv”), Oleksandr Denysov (FC “Polissya”), and Vitaliy Lubinets (Win Win Club). The moderator was Vladislav Antipov (CERN).
Valery Shamotiy noted that padel is part of a larger business ecosystem and an extension of the goal of promoting a healthy body and a healthy mind. According to him, this is particularly important in today’s world, which is why spaces are being created where people can play, including padel.
Vitaly Lubinets emphasized that business is all about relationships between people. Padel, he said, helps foster these relationships beyond business processes. Yevhen Mushkin spoke about the development of the VDNG cultural and educational park and its system of interconnected public spaces. Most of the content at VDNG, he said, is created by partners. And padel will play an important role in one of the key clusters—the sports cluster.
Oleksandr Denysov explained that padel provides excitement and a form of relaxation for the players of FC “Polissya.” At the same time, he noted, soccer players need to maintain their physical condition after training sessions and games, so they require physical activity that also allows them to relax. In addition, FC “Polissya” President Hennadiy Butkevych built a court at the club’s facility and can play on it against the head coach or the players. Oleksandr Denysov also described padel as a sport that fosters a sense of community and has a low barrier to entry for anyone. After all, here you can compete on equal footing and try to play against anyone. For the soccer community, he said, padel is a great substitute for golf, which has long been considered an alternative leisure activity. He cited networking as another important advantage of padel.
Anton Ivanov noted that his club and team have also started playing padel actively. Top management is gradually getting involved as well. The academy is also actively playing padel. FC Kharkiv holds its UPL home matches on the left bank of the capital, where, in fact, team members play padel. According to Anton, the club uses padel to build a connection with its target audience, encouraging them to cheer for the players during their official matches.
Sports as a Platform for Brand Building
Next was the presentation “Sports as a Platform for Brand Building”, during which Boris Tsomaia (RIEL) discussed how padel is integrated into the developer’s projects.
He noted that the construction industry generally does not consider sponsorship packages. Apartments are being sold, but in significantly smaller numbers. Marketing budgets are shrinking. Under these conditions, according to Boris, padel has a bright future. He suggested drawing on the experience of other sports and thinking outside the box. The potential of padel, he said, is enormous. The sport is becoming more social and accessible. Padel is easier, simpler, and more interesting to play than many other team sports.
Padel as an Investment Product
The topic “Padel as an Investment Product: How to Build a Profitable Club in Ukraine” was presented by Vasyl Kafidov (Zalizko Sport). He noted that it would be a good idea to invest in this area over the next 2–3 years. Vasyl also discussed the construction of clubs and courts and the opportunities to generate revenue from them.
Vasyl paid particular attention to the feasibility of building clubs in specific locations and also highlighted the specifics of operating the facilities and courts. According to the speaker, a club with 3–4 courts can generate a profit of 2–3 million hryvnias.
Padel Clubs in Ukraine
Next was the panel discussion “Padel Clubs in Ukraine”. Participants included Ilya Kaufman (Beat Padel Club), Nadiya Garmash (RSP), Titus Kryliuk (Padel Baza), Maksym Bibikov (Club UZH, Smash, LEV Padel, Karpaty, Arena Padel Club), Lesya Sedova (X Padel), and Marta Martynyuk (ARKAN Arena). The discussion was moderated by Olesya Nikolenko (Ukrainian Padel Federation).
Ilya Kaufman spoke about his club in downtown Odesa. He noted that the most important aspects of a club are its location and service, as well as the additional amenities that can be offered to customers. According to him, in this case, a padel club is like an office where you can both play sports and work at the same time.
Nadiya Garmash spoke about her club’s brand recognition, the creation of a network of clubs, and a systematic approach to development. She also emphasized accessibility for people and the importance of the staff’s sincerity and politeness.
Titus Kryliuk shared news about a case unique to Ukraine—the opening of a branch of the Gustavo Prato Academy, named after the coach of the world’s top padel duo (Agustín Tapia and Arturo Coelho). The goal of the project is to take coaching in Ukraine to a new level. This involves the opportunity to train with different coaches while still understanding a common development system. The idea is for international experts to teach us and our coaches how to do this.
Maksym Bibikov discussed the work of clubs operating under various brands in western Ukraine. According to him, there isn’t a single name for them, but the team is trying to make everything as similar as possible. Lesya Sedova mentioned the friendship between the clubs and their joint projects. She said that the clubs do not view each other as competitors. It’s about shared development and mutual growth. She also mentioned hosting major tournaments at the club, their successful experience, and the organization of such events.
Marta Martynyuk spoke about the upcoming major tournament in Ivano-Frankivsk, which will take place in October. She explained that there were many requirements, and the team met all of them and volunteered to host the tournament. She also emphasized that it is important that there are great clubs in western Ukraine—and throughout the country—that can host tournaments with thousands of participants, not just in Kyiv.
Technology and Accessibility in Padel
A separate presentation titled “How Technology Helps Players Find Each Other: The DropBall Case Study” was delivered by Oleksandr Nikonov in a Q&A format.
During a conversation with Oleksiy Braga (Sport Business Media Agency), they discussed a special app for padel. DropBall is a large ecosystem that connects players, clubs, the federation, and coaches.
According to Oleksandr, DropBall’s CRM provides the most up-to-date analytics on the club’s operations. For players, DropBall specifically offers the opportunity to find opponents at their desired skill level.
There was also a presentation titled “How to Make Padel Accessible to a Wider Audience”, delivered by Andriy Rebrina (Ukrainian Mass Sports Agency). Andriy began by explaining that he was a little late because he had been playing padel.
Currently, he and the Agency are working to develop mechanisms that will help make padel a mass sport.
Today, according to Andriy Rebrina, the main challenge for padel is making it accessible to a wider audience. There aren’t enough courts yet; in many cities, opportunities to play are limited; and for beginners, there’s no clear path to getting into the sport. Added to this is the perception of padel as an expensive or exclusively trendy form of active recreation. Therefore, the future of padel depends not only on its popularity but also on its accessibility.
The topic “How to Gain 1,000+ Customers Through Social Media and Make Your Audience Fall in Love with Your Business” was presented by Oleksiy Aletynskyi (33padel). The presentation focused on eight key reactions to consider when working with social media, including platforms dedicated to padel.
Consistent views start with a systematic approach to content. Oleksiy emphasized that it’s important to regularly post content on platforms that can generate organic, free traffic, and to create content that truly benefits the audience—providing knowledge, answers, and interesting information. It’s not necessary to come up with a new format every time. It’s worth analyzing approaches that have already proven successful and adapting them to your own niche.
Padel as a Hobby
The final panel discussion focused on the topic “Padel as a Hobby”. Participants included Stanislav Horuna (Ukrainian Karate Federation), Oleg Zagorodniy—a theater and film actor, Yevgen Komarov (travel lawyer), and Stanislav Mospan (FC “Phantom”). The discussion was moderated by Andriy Kovalsky (ICTV).
The celebrity participants shared their stories about how they got into padel, talked about what they like about the game, and explained why they would recommend padel to others.
Stanislav Horuna jokingly complained that he was practically dragged into padel, but he has absolutely no regrets about this new sporting experience.
Yevhen Komarov noted that he took up padel after already having experience playing tennis. In his opinion, tennis skills make it much easier to transition into this new sport—padel.
Stanislav Mospan explained that a year ago, soccer player Pylyp Budkivsky invited him to play padel. For Stanislav, his first padel match was the deciding factor in his deep fondness for the game.
Oleg Zagorodniy also came to a padel warm-up session at a friend’s invitation and tried his hand at padel for the first time at a media tournament. Later, Oleg said, he got hooked and even began training with a coach.
Exhibition Areas and the Ukrainian Championship Finals
Outdoor and indoor exhibition zones operated simultaneously, where guests could learn about the activities of the event’s partner brands, try out padel equipment, and enjoy themselves in a relaxed atmosphere. Anyone interested had the opportunity to play on the outdoor court, as well as participate in giveaways and contests hosted by the partners.
The final matches of the Ukrainian Padel Championship took place on the indoor padel court at UNIT.City. Kyivstar TV organized a live broadcast of the finals.
“Interfax-Ukraine” and Open4Business served as partners of the event
Foreign developers and investors have been showing interest in the Ukrainian housing market even during the war; however, to launch large-scale projects, they need clear government regulations and a functioning financing model for affordable and social housing, according to Alexei Koval, CEO of Perfect Group.
“Even now, Italians, Austrians, and Germans are watching us,” he said in an interview with Interfax-Ukraine published on September 1, 2026.
In his assessment, foreign companies could enter Ukraine with cheaper European credit capital and work on specific reconstruction projects.
One of the main constraints remains the lack of a detailed government model for social and affordable housing, including construction volumes, requirements for housing projects, financing mechanisms, and categories of future residents.
At the same time, mechanically transferring European construction models to Ukraine may prove economically inefficient. Koval noted that the modern modular and prefabricated technologies offered by Western companies in some cases have a cost price exceeding EUR 1,000 per square meter, excluding land, foundations, and utility connections.
Taking into account additional expenses, the final cost of such housing could reach approximately EUR1,400 per square meter, which, for the Ukrainian market, already corresponds to the selling price of some properties rather than the construction cost.
According to the head of Perfect Group, foreign technologies will have to be adapted for Ukraine to account for safety requirements, the population’s purchasing power, and the local cost structure.
The company is also studying foreign real estate markets on its own, particularly Spain, Poland, and the Czech Republic; however, it has no immediate plans to invest outside of Ukraine. Perfect Group is considering the possibility of international diversification for the period following the end of the full-scale war.
Perfect Group was founded in 1991 and specializes in residential, commercial, and resort real estate.
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