S1 REIT has published the results of a scheduled revaluation of S1 VDNG fund assets as of the end of 2025. According to the conclusions of an independent appraiser, the market value of real estate in the fund’s portfolio shows stable positive dynamics.
Key valuation indicators:
Value dynamics: the average price per square meter increased from $2,124 (at the time of acquisition) to $2,244 (as of December 31, 2025).
Net capitalization amounted to +5.7% in currency terms for the reporting period.
The growth in the value of S1 REIT’s assets correlates with general market trends. According to LUN, the secondary real estate market in Kyiv showed positive price dynamics in 2025. The average price per square meter increased by 11% in currency terms.
“S1 VDNG is primarily an income fund where investors receive ‘live’ money every month. However, it is important to understand that the total return on our instrument consists of two parts: regular dividends from rental activities and the capitalization of the asset itself. We buy real estate that not only works but also becomes more expensive every year thanks to its successful location and effective management,” comments Viktor Boichuk, commercial director of S1 REIT.
The S1 VDNG fund continues to demonstrate stable payments. Since April 2025, investors have been paid dividends totaling UAH 1,229,818.99. The price of one investment certificate as of January 14, 2026, is UAH 1,100.4, which is 10.04% higher than the price of the certificate as of April 9, 2025.
“We are grateful to investors who believed in the REIT model in Ukraine. Today, we see synergy: according to the results of 2025, the fund received 8.4% per annum in dollars or 11.7% in hryvnia from leasing. And the total annual return, taking into account rental activity and capitalization, is 16.9% in dollars or 20.5% in hryvnia,” adds Viktor Boichuk.
About us:
S1 REIT is a real estate investment fund specializing in income-producing real estate in the Build-to-Rent format. The fund operates under the Real Estate Investment Trust (REIT) model, providing investors with the opportunity to participate in the ownership and income generation of income-producing properties without directly managing the assets.
Currently, S1 REIT has two funds in its portfolio: S1 VDNG and S1 Obolon. The funds’ assets are apartments in income-generating buildings from the developer Standard One.
* Past performance of the fund is not a guarantee of future returns. Before investing, please read the terms and conditions and consult with a financial advisor.
