The development company Alterra Group will build the Formation.Vinnytsia industrial park (IP) based on the Quadruple Helix model, with total investment in the project estimated at UAH 6 billion, the company’s press service told Interfax-Ukraine.
“The Formation.Vinnytsia industrial park is the second project in our Formation series of parks. The first one, which we are implementing in Lviv, has already proven the effectiveness of our model — a full-fledged ecosystem for manufacturers with the integration of the Quadruple Helix Model,” said Alterra Group CEO Dmytro Kovalchuk during the project presentation in Vinnytsia.
As reported, in early 2025, investor Boris Shestopalov of Volia Agri-food Park Vinnytsia (Vinnytsia Industrial Park) brought commercial real estate developer Alterra Group on board as a strategic partner for the construction of the industrial park. According to the OpenDataBot service, Yuparks LLC sold 75% of the authorized capital of Alterra Group LLC.
UPARKS began construction of the industrial park in August 2023. The Volia Agri-Food Park Vinnytsia project received approximately UAH 116 million in state support in 2024.
According to Alterra Group, as of May 2025, roads and sewage systems have already been connected to the industrial park, and a wide highway is currently being laid there. The total investment in the project, which is scheduled for completion by 2029, is estimated at UAH 6 billion.
The area of “Formation.Vinnytsia” will cover 175,000 square meters, where about 50 companies can be located. The Quadruple Helix model provides for cooperation between education, business, government, and society to create innovations. According to this concept, there are plans to create an innovation and technology development center, which will include a prototyping laboratory with professional equipment for creating prototypes, an R&D center for developing new products, and a business incubator for manufacturing startups. The IP is expected to create about 3,500 jobs, and cooperation with universities will allow educational programs to be adapted to the real needs of business.
“We are particularly interested in the development of food processing, the automotive engineering and components sector, and related areas. At the same time, we are open to other industries if their activities fit harmoniously into the overall ecosystem of the park and contribute to mutually beneficial coexistence,” Alterra Group said.
Another feature of the project is that the management company will help residents to export their products thanks to its membership in European chambers of commerce and industry, promising preferential terms for participation in international exhibitions and communication with potential foreign partners. As specified to Interfax-Ukraine, this service will be available to park residents by the end of this year.
The future infrastructure of the ID includes facilities aimed not only at residents but also at the community as a whole. An apart-hotel, a canteen, a gym, a supermarket, a sports ground, a customer center, and a shelter are planned.
Alterra Group LLC was established in 2016 with a statutory fund of UAH 5 million. The ultimate beneficiary is Dmytro Kovalchuk. The company’s portfolio includes nine projects, of which 107,868 square meters have already been commissioned, and 108,900 square meters will be ready in 2025. According to OpenDataBot, in 2024, the company received UAH 236,969,700 in revenue, which is twice as much as in 2023, and reduced its net loss by 1.7 times to UAH 699,300.
Alterra Group has invested $8.5 million in the expansion of the Joule logistics center (Kyiv region, Svyatopetrivske) from 8 to 20 thousand square meters, the company’s press service toldInterfax-Ukraine.
According to Alterra Group’s commercial director Gennadiy Grinenko, the expansion is due to the growing demand for rental space in the facility, with zero vacancy in the first stages. According to the survey, entrepreneurs are increasingly looking for ready-made commercial premises instead of building their own warehouses.
Nine new businesses, companies that combine innovation, social responsibility and a focus on sustainable development, have become residents of the first stages of Joule. Farmak’s pharmaceutical business is among the residents. The expansion of the facility will attract more such residents and create at least 50 new jobs.
“Our experience proves that the more progressive businesses there are in the complex, the more ideas, innovations and collaborations they produce. For example, this happened with our logistics center PORT, where residents actively cooperate with each other. Such an ecosystem not only saves time and money for residents, but also creates a business community where everyone strengthens each other,” says Hrynenko.
Another change in Joule is that it has become more accessible to small businesses. Previously, companies could rent or buy premises ranging from 500 to 6 thousand square meters. Now, the minimum area has been reduced to 200 square meters.
“This makes it possible to get all the necessary infrastructure ready, including access to autonomous heating and lighting, even for businesses that have just started their development,” explained Hrynenko.
Alterra Group is a Ukrainian company specializing in the development and management of commercial real estate on a turnkey basis. The company’s portfolio includes 43 properties with a total area of 175 thousand square meters. These include warehouse and industrial complexes, business centers, shopping and entertainment centers.
The development company Alterra Group, which is currently implementing the Formatsiya.Lviv industrial park project, intends to build a network of seven such parks, said Olena Podolska, head of the company’s international business unit.
“Lviv will be our first park, then we will go to Rivne, two will be in Kyiv, and then we will return to the western region – Ivano-Frankivsk, Vinnytsia, and Khmelnytsky,” she said during the Ukrainian Automotive and Mobility Forum 2024 in Lviv, organized by the Ukrainian Automotive and Mobility Cluster with the support of the USAID Competitive Economy of Ukraine Program.
Podolska noted that there are already several local manufacturers who plan to open 10,000 square meters of production facilities in the Formation.Lviv IP, including the USP sandwich panel manufacturer.
In addition, during the forum, the CEO and owner of Lois Motors LLC, which is implementing a project to create a light electric vehicle LUAZ and plans to scale it up, announced his interest in locating his production in the park.
“I plan to scale up the project and cooperate with the Formatsiya.Lviv industrial park to open either a car production facility for people with disabilities or the next stage of our production,” he said during the forum.
Alterra Group is building 150 square meters of production, warehouse and office space on 30 hectares of land in Formatsiya.Lviv (formerly Formatsiya.Syhnivka). It will include a prototyping laboratory, R&D center, business incubator, event space, offices, and showrooms.
According to the project presentation, the first phase of the park is scheduled to be commissioned in the first quarter of 2025.
Alterra Group LLC is a Ukrainian company specializing in the development and management of turnkey commercial real estate.
The company manages 35 facilities with a total area of 175 thousand square meters. These include warehouse and production complexes, business centers, shopping and entertainment centers.
The company’s completed commercial real estate projects in Ukraine include the PORT logistics center, PROSTIR business hub (both in Lviv), Palo Alto business center (Kyiv), and Joule and JAM warehouse complexes in Kyiv region.
Ukrainian development company Alterra Group has insured in IC INGO (Kiev) the construction of a new logistics center PORT2 in Lviv region, according to the insurer’s press release.
It is also noted that Alterra Group has partially insured the first part of the logistics center PORT (PORT1), including the economic building and communications PORT1. In addition, the construction of the second part of PORT(PORT2) was fully insured against military risks. All buildings, including finishing, communications and glass, as well as construction and installation works and materials (including construction materials) or elements of the building that have not been put into operation are insured.
The sum of insurance coverage amounts to UAH 20 mln.
According to the insurance contract, IC INGO undertakes to indemnify the cost of restoration of insured objects in case of their damage or destruction as a result of military actions, including hit by missiles or their debris, drones, other types of armed aggression or defense actions.
Additionally, in case of an insured event, INGO compensates for the costs of clearing the territory of the insured object, firefighting costs, other measures that will help prevent or reduce the amount of damage, as well as payment for the services of engaged specialists and overtime expenses.
According to Dmitry Kovalchuk, founder of Alterra Group, such an insurance contract will facilitate cooperation with potential clients and investors, especially during construction.
“This is an important first step for business, as it demonstrates the private sector’s ability to adapt to challenges and stay ahead of government protection mechanisms that are sorely lacking,” says Dmitry Kovalchuk.
Director for Corporate Business of INGO Insurance Company Andriy Semchenko, in his turn, noted that insurers should cover war risks of Ukrainian business for the sake of promoting the Ukrainian economy. Even despite the fact that now the Ukrainian insurance market is left without the support of Western reinsurers for military risks.
“Yes, it is difficult for domestic insurance companies to provide substantial coverage limits, but we simply have no other choice – entrepreneurs should receive guarantees of protection and continue to work in Ukraine, rather than taking business abroad,” said Andriy Semchenko.
JSC “Insurance company “INGO” provides insurance services for 30 years. Since 2017, the main shareholder is the Ukrainian business group DCH.
“INGO” is a full member of the Motor (Transport) Insurance Bureau of Ukraine (MTSBU), a member of the American Chamber of Commerce (ACC), the European Business Association (EBA), the National Association of Insurers of Ukraine (NASU) and the International Chamber of Commerce (ICC).
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