The development company Budhouse Group will invest about EUR 314 million in three projects in the next three years, namely in the Yessa (Odesa) – about EUR 12 million, the Khortitsa Mall (Zaporizhia) – EUR 82 million, and in the Hartz complex (Kyiv) – about EUR 220 million, Anatoliy Shkribliak, founder and shareholder of one of the largest Ukrainian developer Budhouse Group, said in an exclusive interview with Interfax-Ukraine.
“This summer we are resuming the construction of the Yessa shopping and entertainment center in Odesa, we plan to complete it in about a year and two months, in the autumn of 2021,” Shkribliak said.
The expert added that since the project was suspended in 2014, its reconception will be carried out.
In addition, this summer, the construction of the Khortitsa Mall project (the former working title is the Fabrika-2 Mall) will begin in Zaporizhia.
“This object will be built on a destroyed industrial zone located on the main highway of Zaporizhia. Investments in the construction of a new shopping and entertainment center, with a total area of 85,000 square meters and a lettable area of 65,000 square meters, will amount to about EUR 82 million. In two years and a half this center will become the largest and most preferable in Zaporizhia,” Shkribliak said.
The site for the multifunctional complex Hartz in the center of Kyiv on the Peremohy Avenue was cleared back in 2011. “The project in the Ukrainian capital should become the ‘icing on the cake’. We will start its construction after the completion of projects in Odesa and Zaporizhia,” Shkribliak said.
According to him, the estimated payback period for projects is eight years or more.
The state-owned development company Ukrbud, part of the state-owned development corporation Ukrbud (all located Kyiv), in 2020 reduced its net profit by 31% compared to 2019, to UAH 14.4 million.
According to the company’s annual report in the information disclosure system of the National Securities and Stock Market Commission, its net income decreased by 50.1% and amounted to UAH 62.9 million, gross profit – by 16%, to UAH 26.3 million and operating profit – by 30.1%, to UAH 17.6 million.
Retained earnings of the company increased by 7.5%, to UAH 57.1 million. Current liabilities decreased by 36.2%, to UAH 18.3 million, and there are no long-term liabilities.
In general, the company’s assets last year decreased by 2.2% and amounted to UAH 284.9 million.
The development company Ukrbud was established by the government of Ukraine in 2004. It is part of the state-owned development corporation Ukrbud.
The company is engaged in the design and construction of industrial and civil facilities, as well as training of personnel for the construction industry. Ukrbud includes 11 subsidiaries in Ukraine.
The owner of 100% of the company’s shares, according to the National Securities and Stock Market Commission, as of the fourth quarter of 2020, is the Cabinet of Ministers of Ukraine.
The charter capital of Ukrbud amounted to UAH 193 million as of April 2021.
