The Turkish developer Bosphorus Development continues to invest in its first project in Ukraine – the construction of the Maxima Residence residential complex in Kyiv (30 Konovaltsia Street), said Mehmet Vahit Sachaklioglu, founder and chairman of the supervisory board of Bosphorus Development, in an interview with Interfax-Ukraine.
“We started working on the Maxima Residence residential complex in Kyiv a few months before the outbreak of the full-scale war. This is our first development project in Ukraine. We are implementing it in partnership with the Ukrainian company RIEL. The Russian invasion slightly adjusted our plans, but did not stop the work,” said Sachaklioglu.
Maxima Residence is a business-class residential complex with 486 apartments, built in accordance with international standards and environmental regulations.
“Our architects have put a lot of effort into making it convenient for all residents: modern apartment layouts, well-thought-out common areas, recreation and sports areas, playgrounds, interesting landscape design solutions,” said Sachaklioglu, emphasizing that the Turkish company seeks to apply more than 50 years of experience gained in the implementation of more than 100 projects.
He also noted that the principles of inclusion have been followed – special paths and handrails for people with limited mobility have been integrated into the infrastructure of the complex.
The three-section residential complex, according to the class of real estate, has a stylish lobby, a children’s playroom for different age groups, a multipurpose lounge area with a terrace, a coworking space and a separate space for business meetings, as well as a fitness room for residents of the complex. A two-level underground parking is planned and the principle of “yard without cars” will be applied.
According to Sachaklioglu, sales began in June this year, and since then prices have increased by 10% (according to LUN, currently 52.7 thousand UAH/sq. m.). About 120 apartments are available for investors in the first and second sections. Sales in the third section are not yet open.
According to the schedule, the construction of the third and last section of the complex will be completed in the 4th quarter of 2025.
“Our company is investing in the construction of Maxima Residence as much as it takes to implement the project in a high-quality and timely manner. Ukraine is a country of favorable location, great opportunities, and a promising future. Yes, it is risky to start new projects now. However, we have resumed the construction of Maxima Residence, which employs hundreds of specialists, pays taxes to the budget, and supports the Ukrainian economy. This is necessary to show other foreign companies and investors that it is now profitable to invest in Ukraine and there is no need to be afraid,” said Sachaklioglu.
Bosphorus Development plans to implement residential and commercial projects in Ukraine.
“I can’t tell you the details, because the situation is changing every day, and it is difficult to predict future prospects. However, I would like to note that we already have a considerable land bank in Ukraine, which is still formed from plots located mainly in the central part of Kyiv. We are also considering the possibility of implementing projects in Europe and the United States in the near future. We are currently studying these markets,” he said.
Bosphorus Development is one of the top ten development companies in Turkey. Since 1970, it has implemented more than 100 projects with a total area of more than 5 million square meters. Its landmark projects include the Istanbul Tower 205 skyscraper, Country Life Residence, Arcadium Life Residence, Real Life Residence, Blue Lake Residence, Historia Mall and Aqua Florya Mall, Crowne Plaza Hotel Florya, and Koru Florya Residence & Mall, a themed aquarium.
In 2019, Mehmet Vahit Sachaklioglu, a representative of the family business, founded Bosphorus Development Joint Stock Company in Ukraine and headed its Supervisory Board.
