On July 31, the III UKRAINE INVESTMENT CONGRESS 2025 took place at the Parkovy Exhibition Center — the main event of the year for the investment, construction, and architecture industries.
The event brought together over 4,857 participants: representatives of international and national investors, banks, development companies, industrial groups, municipalities, government agencies, and industry associations.
The congress became a platform for frank dialogue about the future of Ukraine’s investment market, the development of joint reconstruction strategies, and the search for new formats of public-private partnership.
“The main investment today is people. Ukrainians who start businesses even during the war, create jobs, and change communities. Our task is to provide them with the conditions, tools, and partners to scale up.”
The program covered the most pressing aspects of the investment environment.
1. Ukraine’s investment attractiveness.
Participants discussed how to increase confidence in the Ukrainian market, reduce regulatory barriers, and create transparent rules of the game. It was emphasized that the stability and predictability of state policy is a key signal for large investors.
2. Investment and geopolitics.
Panel discussions touched upon the new architecture of international cooperation. Experts emphasized that the war has changed the priorities of global players, and Ukraine should become an example of effective integration into economic alliances through partnerships with international funds and corporations.
3. Capital for ideas: how banks evaluate projects.
Representatives of the banking sector presented criteria for making financing decisions: from a thorough analysis of the business model to an assessment of geographical and security risks.
“Our main task is to build relationships with clients based on trust. If we understand the business and believe in the idea, it is easier to make a positive decision,” said Semen Babaev, Deputy Chairman of the Management Board of PRAVEX BANK.
4. Private investment and insurance mechanisms.
A separate discussion was devoted to investor protection: risk insurance and compensation under international law. This is especially important for small and medium-sized businesses, which are the quickest to respond to reconstruction needs.
5. Alternative energy and distributed generation.
Representatives of the energy sector emphasized that green energy projects are among the most attractive for private investors. The Investment and Development Fund – First, which focuses on financing such initiatives, was presented for the first time.
6. Defense projects and dual-use.
The focus is on attracting private capital to dual-use projects. During the presentation, the launch of Ukraine’s first mutual fund, the Verum One Security Fund, was announced.
7. Development and architecture.
The community of architects called for a change in the urban planning paradigm: the chief architect should not only be the creator of the environment, but also the manager of the community’s investment development.
8. Production of building materials.
Participants agreed that creating their own production facilities is a strategic task that will reduce construction costs and accelerate infrastructure restoration.
“Investment is not just about finance. It’s trust, new technologies, and responsibility for a shared future. We have shown that Ukraine is ready for recovery and open partnerships.”
General Partner: Creator-Bud
General Sponsor: HutJet
Strategic Partners: ViYar, Saint-Gobain, and Regips
Premium Partner: ITUM
Partners: Bang & Olufsen, Zezman, Lizrome, RIEL, Edplit, Laterem, Vlasne misto, Sheriff, Riyako&partners, Metinvest, Ribas hotels Group, BlissGroup, HOLZ, Galleria Porcellanato, Akam, Plitos, DzenResidence, AGT PLUS, Eva Sad, Benjamin Moore, Danapris Doors, ElfDecor, Listelli, Alumil, FitoArt, Matro, HomeStyle, Bonsso, Jung, Arbofari, Galantpol, Decoration Club, EPSA, Skarlat, Skogur, World of Interior Solutions, Rodors, Quarzwerke Group Representative Office in Ukraine, Supermarket of Fittings, Karcas24, UK Expertise, Maestro, Karbosnab, Nova Dacha, Budmall, AS Architecture & Design Building, WoodAndHearts, Varenycia, Studio Design Inspiration
General information partners: Interfax-Ukraine, FOCUS
Information partners: DELO.ua, DsNews, Kyiv24, Channel 33, Europe +, Kraina FM, Rubryka, First Business, Business Women, True.ua, Property Times, Skyscraper, InVenture, Comments.ua, DomRia, Izba, Femida.ua, Ukrainian Steel Construction Center, Build Portal, Prof Build, VARTO, Time of the First, HIS.
Organizers: DMNTR Media Group—a team with 25 years of experience in organizing professional events for the architectural, construction, and investment audiences.
Key projects include the Ukrainian Construction Congress, Ukraine Investment Congress, All-Ukrainian Interior of the Year competition, Ukraine Urban Awards, and the Creator of the Year architecture and development award.
The media group also publishes DMNTR magazine and actively develops social media with insights, news, and reports.
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Photo: Pavlo Botanov, Andriy Sarymsakov
NovaPay Credit, a subsidiary of the international financial services company NovaPay (TM NovaPay) from the Nova group, which is the issuer of NovaPay bonds, received UAH 19.80 million in net profit in the second quarter of 2025, which is 8.2% more than in the second quarter of 2024.
According to the company’s report on its website, gross profit for this period decreased by 5.3% to UAH 23.75 billion, while revenue increased 2.4 times to UAH 125.78 million.
Overall, in the first half of this year, NovaPay Credit increased its net profit by 52.2% compared to the first half of last year, to UAH 53.92 million, gross profit increased by 55.7% to UAH 70.07 million, with revenue growing 2.7 times to UAH 260.36 million.
According to the report, the company’s current accounts receivable for the half-year increased from UAH 784.77 million to UAH 1 billion 61.86 million.
It is noted that proceeds from the sale of bonds in January-June this year decreased slightly compared to January-June last year – to UAH 355.63 million from UAH 369.97 million, as did the costs of their redemption – to UAH 244.92 million from UAH 300 million.
At the same time, proceeds from repo agreements with bonds, which the company offers as an alternative to bank deposits, increased to UAH 705.88 million from UAH 392.25 million, while expenses under such agreements increased to UAH 422.03 million from UAH 320.81 million, and interest expenses increased to UAH 44.19 million from UAH 22.19 million.
As a result, over the first half of the year, liabilities under repo agreements more than doubled, from UAH 224.45 million to UAH 508.30 million, while obligations under bonds increased from UAH 190.32 million to UAH 285.21 million, and accrued interest – from UAH 9.09 million to UAH 39.31 million.
As reported, in 2023, NovaPay made three public issues of three-year interest-bearing bonds of series “A”, “B” and “C”, and last year issued six more series of bonds – “D”, “E”, “F”, “G”, ‘H’ and “I”, and this year – another series “J,” all for UAH 100 million.
According to the report, as of the middle of this year, the total volume of bonds issued amounted to UAH 990 million, of which bonds with a nominal value of UAH 203.09 million were not redeemed. Bonds of series “C” and “I” are sold directly to investors with the right of annual offer, while bonds of all other series are transferred as the subject of a transaction under REPO agreements for a term of up to one year, and the coupon income on them is paid upon maturity.
In early August this year, the National Securities and Stock Market Commission (NSSMC) registered the issue of Series K bonds worth UAH 100 million with a maturity date of August 6, 2028. Their public offering will begin on August 11, 2025, with a nominal interest rate of 18% per annum.
In addition, it was reported that NovaPay Credit will issue series L bonds worth UAH 100 million, which will be the 12th such series in the overall issuance program. It is stated that the funds raised are planned to be used for lending to individuals and legal entities, 80% and 20%, respectively.
According to the prospectus, NovaPay Credit plans to increase its interest income to UAH 802.1 million this year and to UAH 1 billion 515.1 million next year, and to receive UAH 518.9 million and UAH 1 billion 30.6 million in net profit, respectively.
Last year, the company’s net profit grew to UAH 89.2 million from UAH 40.3 million a year earlier, with revenue increasing to UAH 285.6 million from UAH 95.6 million.
The Athens residential real estate market continued to show steady growth in the first half of 2025 amid a recovery in tourism, investment, and economic stability in Greece, according to a market review.The National Bank of Greece recorded a 6.8% year-on-year increase in residential property prices in urban areas in the first quarter of 2025. The price index in nominal terms rose by 8.0% for new apartments and 6.0% for properties over five years old. Growth was 5.5% in Athens, 10% in Thessaloniki, and around 7.3% in other cities.
According to Spitogatos, average asking prices in Athens reached €2,317/m² in the center, €3,222/m² in the north, and €4,000/m² in the south of the city, corresponding to an increase of 7-9% compared to the first quarter of 2024.
Key market drivers:
• Domestic and foreign demand, including thanks to the Golden Visa program
• Infrastructure transformations, including the Ellinikon project on the Athens coast
• Limited supply of quality properties and a shortage of premium housing
Investment in residential and commercial real estate in Greece exceeded €5.9 billion in 2024, of which more than €3 billion was in the residential segment. In the first quarter of 2025, FDI inflows into the real estate sector amounted to approximately €520 million (43% of total investment inflows into the country).
Experts predict that during 2025, price increases will slow to around 4-6%, especially in Athens, and the market will move to more moderate price growth rates after the turbulent dynamics of 2022-2023.
Forecast for August-September 2025
Analysts expect prices to continue rising in central Athens despite seasonality and a possible slowdown in demand, as favorable factors remain in place: the tourist season, foreign investor activity, a construction shortage, and the Golden Visa program.
In August, demand remains strong, especially for apartments ranging from 60 to 80 square meters. In September, there may be moderate stagnation or a slight correction amid expectations of ECB decisions and a seasonal slowdown in activity, but overall the market will remain stable, with potential for growth by the end of the year.
Source: http://relocation.com.ua/athens-residential-real-estate-market-analysis-by-relocation/
Buying a train ticket is not just a transaction – it is the conclusion of a public contract, so “Ukrzaliznytsia” (UZ) is obliged to provide services to everyone who applies to it.
According to Kirill Iordanov, a senior attorney at Barristers JSC, it is only the law, not UZ’s internal documents, that can restrict the right to travel because of the impossibility of buying a ticket through Dia.
“Buying a train ticket is not just a transaction. It is the conclusion of a public contract. In simple language: it’s like coming to the store for bread. The store cannot refuse to sell you if you have the money. In the same way, “Ukrzaliznytsia” as a carrier, occupying a monopoly position in the country, is obliged to provide services to everyone who applies to it. This is directly spelled out in Article 633 of the Civil Code of Ukraine,” he told Interfax-Ukraine.
Iordanov noted that by setting “Dia” as the only key to access the service, the carrier arbitrarily changes the conditions of its provision, it does not just offer a convenient digital service, but forces its use, creating an artificial barrier.
“It turns out to be a paradox: your passport, the main identity document, suddenly becomes less important than having an app on your phone. This is not just an inconvenience – it is a direct violation of the principle of equality. The Constitution of Ukraine guarantees everyone the right to freedom of movement. Of course, this right can be restricted, but only by law, not by an internal decision of a joint-stock company (UZ – IF-U), even if it is state-owned,” he said.
Iordanov believes that the innovation of “Ukrzaliznytsia” to sell tickets only through authorization in “Diya” in practice is a restriction of freedom of movement.
“Ukrzaliznytsia’s initiative hurts the so-called ‘digital divide’, putting huge groups of people in an unequal position. All these people are not speculators. They are ordinary passengers, who are actually deprived of access to a basic service by the state represented by Ukrzaliznytsia,” says the lawyer.
Iordanov also drew attention to the risks of vulnerability of “a non-alternative system tied to the complex interaction of several platforms (UZ, Diya, BankID, mobile operators).”
“Critical dependence on a single infrastructure creates huge risks: in case of a powerful DDOS attack on Diya’s servers or a technical failure in Ukrzaliznytsia’s system, ticket sales for key destinations will be completely paralyzed. Without an alternative in the form of ticket offices, thousands of people will be trapped at a critical moment, making the system potentially dangerous. Adding to this system vulnerability is the human factor, as Diya is inextricably linked to the smartphone. If the phone is lost, broken or simply discharged, a person loses the only key to access the service, turning an ordinary life nuisance into a serious problem,” he stated.
In addition, Iordanov noted that the initiative creates invisible barriers to the outside world, as foreign tourists or Ukrainians permanently residing abroad cannot use the system.
At the same time, he drew attention to the “legal vacuum of responsibility” in case a passenger suffered financial losses due to a failure in the system.
“The current legislation does not provide a clear answer, leaving the consumer alone with his problem, with no real levers to compensate for losses. This set of technical and operational risks demonstrates that the hasty introduction of alternative-free digital solutions can create a collapse where before it was just an inconvenience,” he said.
At the same time, Iordanov emphasized that the judicial prospects of lawsuits by passengers who will not be able to buy a ticket because of the innovations are very high.
“The arguments for the court are ironclad: violation of consumer rights, coercion to conclude a contract on discriminatory terms and violation of constitutional rights. The court is likely to side with the person and oblige the carrier to remove the obstacles,” he said.
In addition, according to Iordanov, there may be a harsh reaction of the AMCU to UZ’s actions – from mandatory recommendations to change the rules to a multimillion-dollar fine.
“Ukrzaliznytsia is a monopolist. And abuse of monopoly position is a direct competence of the AMCU. Creating conditions under which one group of consumers (with “Dia”) gets access to the service, and the other (without ‘Dia’) – not, is a classic example of such abuse”, – he emphasized.
“When introducing any innovation in the social sphere, it is important to keep in mind the key principle – inclusiveness and availability of choice. “Diya.Pidpys” can be a great verification tool, a convenient and modern option for many passengers. However, preserving the possibility to buy a ticket in the traditional way, for example, at the ticket office by passport, will avoid creating barriers for different groups of citizens,” the lawyer summarized.
As reported, due to the shortage of tickets for trains UZ since July 25 spread in test mode verification through “Diya.Pidpys”, which works for international flights and five popular domestic trains. However, the move was heavily criticized by some passengers. In response, the company refused to verify through “Dia.Pidpys” when buying tickets for two domestic trains – #105/106 Odessa – Kiev and #91/92 Lviv – Kiev and test left it for three trains: #29/30 Kiev – Uzhgorod, #12 Lviv – Odessa and #27/28 Kiev – Chop.
A private equity fund from Central Asia – Brickstone Private Equity Fund CEIC Ltd (Kazakhstan) – has acquired Ukrainian construction company Watzenrode.
“As of July 15, 2025, I am no longer a shareholder of Watzenrode. This large company, which I founded in 2013, has grown to become a key player in the Ukrainian construction and now renovation market, showing stable growth even in wartime. The new owner, a private equity fund linked to the largest construction group in Central Asia, has multi-billion dollar revenues,” founder Ilyas Ertle said on LinkedIn.
According to YouControl, Brickstone Private Equity Fund CEIC Ltd (Kazakhstan) became the new owner with a 100% stake.
“With the change of management, Watzenrode has effectively become the construction company with the strongest financial backing in Ukraine. This creates an environment that sets Watzenrode up for success and for becoming a central player in the reconstruction of Ukraine,” Ertle wrote.
The team will continue to be led by Oleksandr Gura, Ilyas Ertle remains on the board of directors at the suggestion of the new shareholder.
Watzenrode provides design, construction and engineering services in the roles of contractor, general contractor and technical customer. In particular, the company was a subcontractor for the construction of the confinement of the Chernobyl nuclear power plant, realized together with NEFCO the project of renovation of the water supply system in Borodyanka, was selected as a general contractor for the expansion of the UNBROKEN Ukraine clinic in Bryukhovichi near Lviv at the end of 2024, etc. According to YouControl, Watzenrode LLC’s revenue for 2024 amounted to almost UAH 369.275 million, which is 2.3 times more than in 2023. The company’s net profit grew last year by 29% to UAH 13.8 million.
Within the framework of the forum in Japan between businesses signed memorandums and agreements for almost $1 billion, said Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine Taras Kachka.
“We have calculated that the total cumulative number of those memorandums, documents signed between businesses reaches almost $1 billion. Dialogue with Japan is systematic, systematic and very meaningful,” Kachka said on the air of the national telethon on Tuesday.
Earlier in the Office of Deputy Prime Minister said that on the margins of the forum Ukraine and Japan signed 29 important agreements, in particular agreements on the implementation of joint projects in agriculture and food industry, infrastructure and construction, technology and innovation.
As reported, on August 3, a delegation headed by Vice Prime Minister of Ukraine for European and Euro-Atlantic Integration Taras Kachka arrived in Japan to take part in the event dedicated to the National Day of Ukraine at Expo 2025 in Osaka, Japan.
