Dragon Capital Property Management has opened the Piramida Business Center (Kyiv, 4 Oleksandra Mishuga St.), with the Dobrobut medical network set to become the anchor tenant, according to the company’s press service.
The Piramida Business Center was built as part of the renovation of the Piramida shopping center in the capital. The six-story business center, with an area of 4,880 square meters, is adjacent to the shopping center, has a separate entrance with a lobby, and is connected to the shopping center via a passageway on the second floor.
“For us as investors, the commissioning of the Piramida Business Center marks the culmination of the phased renovation of the shopping center, which we began back in 2020. Unfortunately, the full-scale invasion somewhat delayed the completion of the office portion of the project. So today we are especially pleased to complete the project without postponing it until the end of hostilities,” said Volodymyr Tymochko, Managing Director of Direct Investments at Dragon Capital.
He announced the signing of a long-term lease agreement with the private medical network “Dobrobut,” which will occupy two floors with a total area of 1,560 sq. m and serve as the business center’s anchor tenant. Tenants have also already been found for the first floor of the new building, which will be a retail space. Currently, 2,300 sq. m of office space is available in the business center.
“Demand for high-quality office space in Kyiv continues to grow, and we are confident that the Piramida Business Center, which is currently the only Class A property at the Poznyaki metro station, will be widely popular among tenants,” said Tymochko.
As previously reported, the renovation of the Piramida shopping center took place in stages: in the spring of 2021, a new shopping gallery was built, increasing the total area of the shopping center from 16,800 square meters to 20,600 square meters. In the summer of 2022, the entrance to the Poznyaki metro station was renovated and the surrounding area was landscaped. In the spring of 2023, the renovation of the facade facing Mykola Bazhan Avenue was completed, a massive 350-square-meter LED screen was installed, and the parking lot was completely redesigned and expanded to accommodate 350 vehicles.
Dragon Capital is one of the largest groups of companies in Ukraine operating in the field of investments and financial services. It has over 20 years of experience in direct investments in leading Ukrainian companies, as well as in landmark residential and commercial real estate projects.
Dragon Capital Property Management is a management company that manages a portfolio of commercial real estate. It manages 25 commercial real estate properties, including 12 office properties, six retail properties, and seven logistics complexes. The total area of the real estate portfolio exceeds 570,000 square meters, making the company one of the largest players in the Ukrainian real estate market.
Insurance companies Arsenal Insurance and VUSO (both based in Kyiv) paid UAH 19.9 million (UAH 9.95 million each) in insurance compensation under a co-insurance agreement for buildings against military risks.
According to the Arsenal Insurance website, two business centers belonging to the same chain were damaged after two powerful air strikes on Kyiv in June and July 2025.
On June 23, the blast wave and debris damaged the facade, window structures, glass elements, finishes, and engineering systems of one business center. And on July 10, during another massive attack on Kyiv, an explosion damaged a second business center of the same chain — the entrance, office premises, and double-glazed windows on several floors of the building were destroyed.
Arsenal Insurance is a non-life insurance company with 100% Ukrainian capital. It has been operating since 2005. At the end of 2024, it was among the top six non-life insurers in Ukraine in terms of gross premiums.
VUSO is a Ukrainian insurance company that is among the top five market leaders. It was founded in 2001.
On June 10, 2025, during a massive shelling of Kyiv, the business center building was damaged by debris from an enemy Shahed-type UAV.
The facade, walls, windows, interior partitions, ceiling, floor, and doors were significantly damaged. Engineering and communication systems were also affected: ventilation, heating, power supply, lighting, fire extinguishing, as well as the roof, interior decoration, furniture, and office equipment.
The building was insured against military risks under a co-insurance agreement between three companies: ARSENAL INSURANCE, UNIQA, and TAS. The insurance coverage included the building with all premises, finishes, glass elements, and office equipment. According to the results of an expert assessment, the amount of insurance compensation amounted to more than UAH 12 million. The amount of the payment was determined based on the cost of restoration work, excluding depreciation.
On September 22, 2025, ARSENAL INSURANCE received the last necessary documents, and on September 26, it made its share of the payment — UAH 4,112,237. Thus, only four days passed from the moment the documents were collected to the actual transfer of funds to the client.
“Cases involving military risks are a special category of settlements that require maximum speed and objectivity. Our task is to provide the client with financial support for the rapid restoration of business processes, even in such extraordinary circumstances,” said ARSENAL INSURANCE.
ARSENAL INSURANCE expresses its gratitude to its co-insurance partners, UNIQA and TAS, for their constructive cooperation and effective interaction in the process of settling this complex insurance case.
At the same time, during the settlement process, on August 28, 2025, the same business center was damaged by shelling for the second time. The blast wave and debris again caused damage to the building. The settlement of the second insurance case is currently underway, for which a payment will also be made.
Kovalska Industrial and Construction Group (Kovalska) plans to start construction of the NUVO business center at 47 Zhylianska Street in Kyiv in 2026, the group’s CEO Serhiy Pylypenko said in an interview with LIGA.net.
“We plan to launch the project on the market approximately next year. The concept has been improved, but remains the same: mixed-use office space with some apartments, a hotel. We plan to start construction work in 2026,” said Pylypenko.
He noted that the company has finalized the project and increased its share from 50% to 100%, becoming the sole customer of the construction. Previously, KDD Ukraine was involved in the project.
As reported, in February 2023, Kovalska Group received permission to build the NUVO business park in the center of Kyiv. Earlier, in 2020, the group received permission from the Antimonopoly Committee to buy a 2-hectare land plot at 47 Zhylianska Street in the capital to build a business park.
MVRDV designed two Class A office buildings with a total area of 42 thousand square meters and a height of 18 and 11 floors. Orange Architects designed a 36 thousand square meter building designed to accommodate flexible offices, commercial and cultural spaces on the lower floors, and a hotel and residential space on the upper floors. The design of the complex also takes into account the light rail line on Zhylianska Street.
Kovalska ICG has been operating in the Ukrainian construction market since 1956. It unites more than 20 enterprises in the field of raw materials extraction, production and construction. Its products are represented by the brands Concrete by Kovalska, Avenue, and Siltek. Kovalska’s enterprises operate in Kyiv, Zhytomyr, Lviv, and Chernihiv regions. The aerated concrete plant in Kherson region has not been operating since the beginning of the occupation.
The group also includes Kovalska Real Estate, which is engaged in the construction of residential properties in Kyiv. Its portfolio includes more than 20 completed residential projects.
The engineering and construction company Rauta is starting to implement a business center project in Podil, Kyiv, which will be the first project in which Rauta will perform customer service functions, the company’s press service told Interfax-Ukraine.
“The client service is a new service in Rauta’s offer, but the company already has several projects in its portfolio in which it performs work that allows it to build turnkey buildings,” said Andriy Ozeychuk, the company’s owner.
The functions of the construction customer service include support at the pre-project stage, development of design and estimate documentation, its examination, selection of a general contractor, obtaining a building permit, preparatory work at the construction site, construction of the facility itself, construction and connection of external engineering networks, and commissioning.
Rauta clarified that the business center with an area of about 3 thousand square meters is being built for an international IT company in the historical center of Kyiv, at 10b Kontraktova Square.
Rauta is a leading provider of reliable construction solutions in Ukraine and the European Union.
According to the company’s data, Rauta Group LLC was registered in Ukraine in 2014, with an authorized capital of UAH 388 thousand and revenue of UAH 102 million 396 thousand in 2022.
The construction project management outsourcing is a new service in Rauta offer, but the company already has several projects in its portfolio where it performs turnkey construction works.
The new 7-storey business center has an area of about 3.000 sq.m and modern infrastructure with a comfortable workspace for IT entrepreneurs.
Performance of Rauta construction project management outsourcing includes the following stages:
More information about the construction project management outsourcing
