The state-owned Ukrgasbank (Kyiv) has provided Lviv with a five-year loan of UAH 650.5 million for repairs to schools, hospitals, streets, and park improvements.
According to the bank’s website on Thursday, the loan will be used to renovate educational, healthcare, cultural, and urban infrastructure facilities.
According to Viktoria Dovzhik, director of the financial policy department of the Lviv City Council, they are consciously taking on long-term commitments for investment in the city.
As specified to Interfax-Ukraine, the loan will be issued for a term of five years, but other terms of the loan are not disclosed.
According to the National Bank of Ukraine, in April 2025, Ukrgasbank ranked fifth (UAH 220.0 billion or 5.9%) among 60 banks operating in the country in terms of total assets.
As reported, in the first quarter of this year, Ukrgasbank issued two loans to Kryvyi Rih for a total amount of UAH 105.5 million for a term of seven years with a grace period of 12 months. The interest rate on the loan of UAH 87.6 million is 14.5% per annum in the first year and, from the second year, a variable UIRD 12M +3% with annual review, but not exceeding 23%. The second loan of UAH 17.9 million is issued at an interest rate of 16% per annum for the first year, which from the second year is UIRD 12M + 3.62% with annual review, but also not exceeding 23%. It was explained that 3.62% is 16% minus the current UIRD 12M at 12.38%.
Ukrainian developer RIEL has announced the start of sales for six new residential projects in Lviv and Kyiv. Four of them are located in Lviv. Three complexes — Big Ben, Hyde Park, and Harry — complement the company’s classic portfolio. Another project, Father, became the first in the city to represent the conceptual Riel Family Style line, which emphasizes family values and a special atmosphere of comfort.
“The total area of new projects in Lviv is almost 300,000 square meters. And despite the fact that we are the city leader, RIEL is not resting on its laurels and continues to improve its approaches to creating high-quality urban space,“ said RIEL CEO Rostislav Melnyk. ”That is why we have developed a new format within the comfort class and implemented it in the Riel Family Style concept. We have made sure that as many aspects of family life as possible are taken into account in your living space.“
In particular, the modern Big Ben is a well-thought-out multifunctional space for people of the ”new way of thinking,” interpreting the traditional gallery-style housing of Lviv. Here, every element, from the architecture to the atmosphere, is designed for everyday enjoyment of life.
“Galleries, green areas with fountains, playgrounds, and a paddle tennis court—everything to make every day feel like Friday and neighbors become friends from the second day of meeting!”, the residential complex’s website states.
The developer’s next project in Lviv is the Hyde Park club house, where wellness is at the heart of the concept. The complex is being built next to Shevchenkivskyi Hai Park and will have the first 25-meter swimming pool in Lviv. The complex will offer 1,200 m² of space for sports, self-care, and relaxation, with a spa area and mini-golf and paddle tennis courts.
“Hyde Park is an ecosystem for rejuvenation. We have created a private space for people who value a healthy and balanced lifestyle. The infrastructure, nature, and architecture exist in harmony and fill you with energy. Away from the hustle and bustle of the city and close to a park, we have designed an environment for those who value balance in life,” the developer says on the official website of the residential complex.
The business-class residential complex near the city center, Harry, will have its own English garden with places for active and peaceful recreation and a club area for residents’ leisure. The club status of the Harry complex is emphasized by its closed territory and attention to detail, from the exquisite design of the entrance to the arrangement of common areas.
“Harry has a small number of floors and a limited number of apartments, which means fewer neighbors and more space for the comfort of each resident. The internal infrastructure has been thought out to the smallest detail: modern security systems, energy-efficient technologies, and high-level service create an atmosphere of true comfort,” says the developer.
The Father residential space, located in a cozy area not far from the center, combines privacy and accessibility to urban infrastructure. As noted on the complex’s website, it is ideal for young families and couples who want comfort and safety for themselves and their children. Father was created based on the Riel Family Style concept.
“Here you can easily find everything you need for a harmonious life: a quiet courtyard for games, proximity to educational institutions, and an atmosphere of security, where every detail has been thought out to the smallest detail.”
“Before the start of sales, we held a series of closed presentations for real estate agencies and realtors, shared details about the projects, heard the first reviews, and secured the support of our partners. Today, the new complexes are already on the market, with clear communication and a readiness to respond to people’s requests,” concluded Rostislav Melnyk.
As a reminder, the total area of RIEL’s new projects in Lviv and Kyiv will exceed 500,000 square meters — 282,000 in Lviv and 285,000 in Kyiv. As of today, RIEL has completed all of its projects in Kyiv that were started before 2022 and has maintained its leading position in Lviv. In the first quarter of 2025, the developer commissioned over a thousand apartments.
You can find out more about each project, view the floor plans and purchase terms on the developer’s official website riel.ua.
Source: https://interfax.com.ua/news/press-release/1075139.html
The state-owned Oschadbank (Kyiv) has provided the Lviv City Council with a second loan of UAH 668 million for a term of five years to improve energy efficiency and municipal facilities.
“Oschadbank has signed another loan agreement with the Lviv City Council—the second in the last six months—for UAH 668 million,” Oschadbank CEO Serhiy Naumov said on Telegram.
Other terms of the loan have not been disclosed.
The total amount of loans provided by Oschadbank to the Lviv City Council under signed agreements has already exceeded UAH 1.5 billion, the bank said.
It is noted that the funds will be used to develop strategic urban infrastructure, in particular roads and housing and communal services, and one of the main areas of use will be improving energy efficiency.
“The money will go to a biogas plant with combined production of electricity and heat, an electrical substation, a boiler room with connection to a cogeneration unit, and investments in the company Lvivteploenergo,” Naumov added.
As reported, Oschadbank’s share in energy lending in the first quarter of 2025 exceeded 31%. During 2024-2025, contracts worth over EUR 85 million were signed in the corporate business segment with its participation, in particular for projects to develop energy generation and storage. These include the first case on the market of bank lending for a project to install 30 MW of energy storage systems to provide ancillary services, which was implemented by KNESS as part of a tender by NEC Ukrenergo.
Lviv Locomotive Repair Plant (LLRP), part of Ukrzaliznytsia, plans to repair 17 locomotives in 2025, compared to 16 in 2024, according to information about plans for the current year in the company’s report for the previous year.
According to LLRZ, it also plans to increase the repair of traction motors and their anchors by 30% to 495 units, and auxiliary electric machines by 19.2% (or 30 units) to 186 units.
At the same time, the production plan for the repair of wheel sets is 450 units, compared to 556 units repaired last year.
According to the plant, last year it repaired, in monetary terms, locomotives worth UAH 453.26 million (55% of total sales), wheel sets worth UAH 171.84 million (21%), traction motors worth UAH 99.5 million (12%), and their anchors worth UAH 55.2 million (7%).
In 2024, the plant increased its net profit by 55% compared to 2023, to UAH 24 million, with net income growing by 39% to UAH 827.7 million.
Operating profit increased by 29.8% to UAH 31.3 million, and gross profit by 27.8% to UAH 62.3 million.
“Capital investments in 2024 amounted to UAH 16.522 million. We also saw an increase in EBITDA of UAH 7.9 million, reflecting a trend towards improvement in the company’s financial position compared to last year,” the report says.
At the beginning of this year, the plant employed 846 people (599 of whom were men).
Founded in 1861, LLRZ is now a large Ukrainian enterprise specializing in the repair of electric locomotives, traction motors, and wheel sets.
Kovalska Group is completing the construction of the first phase of a modern autoclaved aerated concrete plant in Rozvadiv village (Lviv region) and has completed the installation of equipment and is preparing for commissioning, the company’s press service reports.
“Investments in the construction of two stages will amount to more than EUR 100 million. This is the largest project in the company’s history. We are building the plant in accordance with European standards, with increased requirements for quality, environmental friendliness, and efficiency. The products will be sold both in Ukraine and abroad,” the group’s CEO Sergiy Pylypenko was quoted as saying in the release.
The first stage’s capacity will allow it to produce almost 600 thousand square meters of aerated concrete products annually, including blocks, panels, U-blocks and reinforced elements. After the second stage is commissioned, the capacity will increase to 1.2 million square meters per year, making Kovalska Aerated Concrete one of the largest producers of autoclaved aerated concrete in Ukraine.
The enterprise is being built on an industrial site of over 140 hectares located 40 km from Lviv, where lime and sand quarries and industrial assets for their processing are already operating.
A Siltek dry mix plant is planned to be built within the same area, which, together with the aerated concrete plant and quarries, will form Kovalska’s western industrial hub, located in close proximity to partners and customers, as well as to the European border.
During construction, special attention was paid to infrastructure.
In addition to the production lines, an administrative and amenity complex, repair shops, warehouses, a hotel, a space with a shop, a food court, a sports ground and a parking area are being built on the site. The architectural design of the complex will reflect Kovalska’s approach to construction: quality, functionality, recognizable style and aesthetics. The non-industrial part of the infrastructure will be open to residents of Rozvadov and guests of the enterprise.
According to the Group’s earnings reports, in 2024, the Group earned UAH 32 million 870 thousand in net profit, which is 24.4% lower than in 2023.
Kovalska Industrial and Construction Group LLC was founded in 2007. The ultimate beneficiaries are Oleksandr and Serhiy Pylypenko (33% each), Volodymyr Surup (17.3%) and Mykola Subotenko (16.7%).
The authorized capital of the group is UAH 62 million 289 thousand 815.
The occupancy rate of Lviv hotels in 2024 dropped to 49% compared to 52% in the same period in 2023, the press service of the Hotel Matrix hotel analytics project reports.
“The year 2024 was a period of significant changes for the Lviv hotel market: the city lost part of its business tourism status to Kyiv. The decline in corporate and business bookings led to a decrease in overall occupancy, which, despite active attempts to increase ADR, could not fully compensate for this loss, leading to a decrease in annual RevPAR compared to 2023,” Hotel Matrix reported.
According to Hotel Matrix, the average daily rate (ADR) for the reporting period amounted to UAH 2785, which is 5.8% more than in the same period in 2023. At the same time, RevPAR (revenue per available room per day) decreased by 3.2% to UAH 1375.
“Despite the 5.8% increase in the average room rate, it was not enough to compensate for the decline in occupancy. This indicates that Lviv hotels, although they were able to adapt their tariff policy, were unable to cope with the complete loss of customer flows, which led to a decline in RevPAR in 2024,” the study says.
It is noted that Lviv hotels should revise their hotel strategies for 2025 to compensate for these changes in the dynamics of customer flow.
Hotel Matrix is a web-based hotel analytics product developed by experts from Poland and Ukraine. It was launched in May 2020. Currently, 200 hotels are connected to Hotel Matrix.
