Real estate investment fund Inzhur intends to cooperate with the international company Colliers to renovate Zhytniy Market in Kyiv.
“Inzhur is ready to turn the neglected Zhytniy Market into a world-class destination. We have held successful negotiations with the specialists of the international company Colliers. They are ready to create a concept for the renovation of Zhytniy Market,” Inzhur’s Telegram channel reports.
According to the report, Colliers’ work will be financed by the fund. Inzhur expects to buy the Zhytniy Market building and turn it into a gastronomic market with street food and a seating area, similar to the TimeOut Market in Lisbon.
As reported, on March 18, the Kyiv City State Administration’s Department of Communal Property announced a tender for the lease of Zhytniy Market. The auction is scheduled for March 25. The starting price is UAH 2.4 million per month. Later, Kyiv Mayor Vitali Klitschko announced plans to announce a new auction and extend the deadline for submitting applications.
For its part, the Inzhur investment fund insists on announcing a privatization auction instead of a lease auction to buy the building from municipal ownership.
Inzhur REIT (Real Estate Investment Trust), the first Ukrainian service for the joint purchase of real estate, was launched in early 2022. The service offers a number of real estate properties leased for 10-25 years to the Ukrainian supermarket chain Silpo and the international fast food chain McDonald’s.
The founder and investor of Inzhur is Andriy Zhurzhii, Chairman of the Supervisory Board of Zhurzhii Ventures Investment Fund. The fund owns Smile Development, a development company that has built and sold more than 35 Silpo and Fora supermarkets to investors, and is developing the Optimisto residential complex in Gatne near Kyiv, and Investment Partners, an asset management company that manages UAH 45 billion in assets in Ukraine and the European Union.
