The Antimonopoly Committee of Ukraine (AMCU) has granted permission to Maxim Krippa’s ARS Capital JSC to acquire control over Igor Nikonov’s Graal LLC, which planned to build an office and hotel complex on Khreshchatyk.
The committee made the decision on February 12, according to its website.
As reported to the Interfax-Ukraine agency by Nikonov’s company KAN Development, the developer is withdrawing from the project.
“Yes, we are withdrawing from the project. The details of the agreement are confidential,” the developer’s press service said.
According to YouControl, the ultimate beneficiary of JSC ZNVKIF “ARS Capital” is the owner of the “Parus” business center, the ‘Ukraine’ hotel, the “International Exhibition Center” in Kyiv, as well as the NAVI esports team, Maxim Krippa. As of February 12, ARS Capital has a 24% stake in Graal LLC.
The owners of Graal LLC are listed as Branko, ARS Capital (24% each), Tennessee (20.75%), Niagara (12.5%), and Terra-Lux LLC (18.75%). The ultimate beneficiary is Igor Nikonov, owner of the development company KAN Development.
As reported, in 2024, the State Architecture and Construction Inspectorate (DIAH) granted Graal LLC permission to build the Stolichny complex in Kyiv on land plots at 5, 5 “B,” and 7/9 Khreshchatyk Street and 4-B Hrushevsky Street in the Pecherskyi district.
According to information on the portal of the Unified State Electronic System in the field of construction, urban planning conditions and restrictions for the project were issued on February 15, 2022, and the permissible height of buildings was set at 34 m. According to the project data, the total area of the 10-story building will be 38.8 thousand square meters, of which the area of apartments (219 units) will be 21.6 thousand square meters, offices – 1.8 thousand square meters, commercial premises – 2.1 thousand square meters, fitness center – 1,200 square meters, underground parking (146 parking spaces) – 4,500 square meters.
Earlier, in 2007, the Kyiv City Council sold 20 acres of land at 5 Khreshchatyk Street to Graal, a company controlled at the time by businessman Mikhail Tabachnik, for UAH 8.7 million. Graal planned to begin construction of the Stolichny complex in 2010. At that time, the project envisaged a 160-meter hotel complex and a four-level underground shopping and entertainment center with parking under European Square. The project was estimated at EUR 400 million.
DIM Group and Maxim Krippa, owner of the Parus business center and Ukraina Hotel, have finalized a partnership and cooperation agreement, the developer’s press service told Interfax-Ukraine.
It is noted that Ukrainian businessman Krippa continues to expand his real estate investment portfolio, which this time will be replenished with residential properties. Following the acquisition of Kyiv’s largest business center Parus in 2023 and the privatization of the historic Ukraina Hotel in 2024, Crippa announced an investment in the DIM Group, a leader in residential development in the capital region.
“I decided to invest in DIM’s projects not only because of their significant investment potential, but also because of our common attitude to doing business during the war: they are not afraid to build, I am not afraid to invest,” said Crippa.
Krippa’s participation will ensure the completion of the construction of the developer’s current facilities and the start of work on new large-scale projects.
“The participation of Maxim Krippa’s development group of companies will allow us to be independent of sales volumes, keep the pace of construction and ensure our investors that the construction of the facilities is completed on time. In addition, we will be able to start working on new projects with confidence,” said Oleksandr Nasikovsky, founder and managing partner of DIM Group, as quoted in the press release.
The portfolio of the DIM development company consists of real estate in Kyiv and the region with a total area of more than 900 thousand square meters. The company has commissioned 3,670 apartments and built more than 356 thousand square meters of residential and commercial space. There are 6 projects under construction with a total area of over 346 thousand square meters.
