The Ukrainian Kobzarenko Group, a manufacturer of trailed agricultural equipment, has launched a new production facility in Kovel, Volyn Oblast, and plans to increase its capacity to approximately 350 machines per year by 2028.
The facility will produce equipment for handling liquid fertilizers and other liquids, including precision fertilizer applicators, mixing and filling stations, and tanks for transporting water and liquid fertilizers. The first units of equipment at the new facility have already been manufactured.
The company intends to invest approximately 40 million UAH annually in production development. As the facility reaches its planned capacity, it is expected to create about 100 new jobs.
The launch of the plant is also significant from the perspective of the geographical expansion of the Ukrainian machine-building industry. The group’s main production facilities have historically been located in the Sumy region. The company also has sites in Lipova Dolyna and Romny, and outside Ukraine, its Polish plant, Kobzarenko Sp. z o.o., manufactures equipment and simultaneously serves as a service center for the European market.
At the same time, the company continues to expand its presence in the EU. In 2026, Kobzarenko participated in industry trade shows in Romania, the Czech Republic, Slovenia, and Poland. Following the AGRA 2026 exhibition in Slovenia, the manufacturer announced negotiations to expand its dealer network in Austria and the search for a new partner in Slovenia.
Thus, the company is simultaneously developing its European sales network and increasing its production capacity in Ukraine.
The Kobzarenko Group has been operating since 1993 and specializes in the manufacture of agricultural machinery, specifically tractor trailers, grain transfer devices, tankers, fertilizer application equipment, and other machinery.
Source: Kobzarenko’s official website.
AGRICULTURAL MACHINERY, INVESTMENTS, MANUFACTURING, mechanical engineering, Кобзаренко
NovaSklo, a subsidiary of the Ukrainian investment group EFI Group, has moved on to the next practical phase of implementing the project for Ukraine’s first modern float glass plant, valued at approximately 250 million euros—the company has begun the selection process for a general contractor for the construction of the facility.
The tender was announced on September 18, 2026. NovaSklo is seeking a contractor capable of performing the full scope of construction work for a large industrial facility.
The project is being implemented in Velyka Dymerka, Kyiv Oblast, approximately 25 km from Kyiv. According to materials from the International Finance Corporation (IFC), the future plant is designed to produce approximately 800 metric tons of glass per day. The facility will manufacture clear, ultra-clear, and energy-efficient coated glass, as well as tempered glass.
The IFC is providing advisory support for the project in collaboration with Japan. The corporation estimates the project’s total cost at €250 million, with construction scheduled to begin in late 2026 and the plant set to begin operations in 2028.
The international component of the project extends beyond IFC’s financing and advisory services. NovaSklo’s technology partner is Pilkington Technology Management, a subsidiary of Japan’s NSG Group, one of the world’s largest manufacturers of architectural and automotive glass.
NSG specialists will support the project during the design, construction, and production line launch phases, including technology optimization, energy efficiency, and industrial safety systems.
Once it reaches its designed capacity, the plant is expected to create more than 300 jobs and become Ukraine’s first large-scale float glass production facility.
The economic impact of the project could extend far beyond the plant itself. Ukraine remains dependent on imported flat glass, while the reconstruction of housing, commercial real estate, and infrastructure in the coming years is expected to generate significant domestic demand.
The establishment of domestic production will make it possible to replace a portion of imports and create a local raw materials and processing supply chain for manufacturers of windows, facade systems, insulated glass units, and other building materials.
At the same time, NovaSklo is establishing an international supply chain even before the plant’s launch. In June 2026, NovaSklo Trade signed an exclusive agreement to distribute Pilkington architectural glass in Ukraine.
Thus, the project brings together Ukrainian industrial capital, the technology of Japan’s NSG Group, the expertise of the IFC, and support from Japan, and is one of the largest new industrial projects currently being prepared for construction in Ukraine.
In Hungary, starting January 1, 2027, the VAT rate for certain new housing units may increase from the current reduced rate of 5% to the standard rate of 27%, which will put additional pressure on the prices of apartments in new buildings, according to local media reports.
The current preferential rate of 5% applies to new apartments with an area of up to 150 square meters and single-family homes with an area of up to 300 square meters that meet the established requirements. According to an official clarification from the Hungarian National Tax and Customs Administration (NAV), this regime, in its current form, remains in effect until December 31, 2026.
After that, the standard VAT rate of 27% will apply to properties that do not meet the conditions of the transition period.
However, a significant portion of projects already underway will be able to retain the tax benefit until the end of 2030. Specifically, the 5% rate may apply after December 31, 2026, if the required building permit has become final by the end of 2026. Transitional provisions are also in place for projects implemented under the construction notification procedure.
As a result, the Hungarian market may effectively feature new construction projects with varying tax burdens simultaneously, depending on the project’s start date and legal status.
The potential impact on housing prices could be significant. An apartment costing 100 million forints, taking into account the current 5% VAT rate, has a pre-tax price of approximately 95.2 million forints. If a 27% rate were applied to the same base, the final price would be approximately 121 million forints. The theoretical difference is about 21 million forints, or approximately 58,000 euros.
However, the actual price increase may be smaller, as developers may absorb part of the additional tax burden themselves in the face of weakening demand.
A decline in buyer activity is already being observed in the market. According to data from the National Bank of Hungary, the number of real estate transactions in the first quarter of 2026 fell by 18% compared to the same period the previous year. According to Duna House estimates, approximately 8,100 residential real estate transactions were concluded in August—13.1% fewer than in July and 29% fewer than a year earlier.
At the same time, developers are accelerating the preparation of new projects. In the first half of 2026, permits were issued and notifications were registered in Hungary for the construction of 16,588 residential units, which is 29% more than during the same period in 2025.
The change in the tax regime does not directly affect the resale housing market. However, the widening price gap between new projects subject to a 27% VAT rate, properties retaining the 5% rate, and the resale market may affect the structure of demand and housing prices overall.
Certain new apartments in officially designated “rust belt action areas” will remain an exception: provided they meet the requirements established for them, the preferential 5% rate will continue to apply even after January 1, 2027.
According to Experts.news, Lisbon was included in the UBS Global Real Estate Bubble Index for the first time and was immediately classified as a city at high risk of a housing price “bubble.”
The Portuguese capital’s index stood at 1.04 in 2026, according to a UBS study published on September 22. The bank classifies readings between 1.0 and 1.5 as “elevated risk.”
Over the past decade, real housing prices in Lisbon have risen by an average of nearly 7% annually—the highest rate among all 23 cities included in the study.
Since mid-2025 alone, housing prices, adjusted for inflation, have risen by an additional 10% or so.
UBS attributes the market’s long-term upswing, in particular, to policies aimed at attracting foreign investment and new residents.
However, analysts note that the factors that previously supported growth are gradually weakening. Lisbon has become one of Europe’s least affordable housing markets; rent growth has stalled, and demand is beginning to shift toward more affordable areas outside the city.
UBS cites Portugal’s shift toward a more selective immigration policy as an additional factor.
In terms of risk, Lisbon now ranks just behind Zurich, Tokyo, Miami, Dubai, Seoul, and Geneva. At the same time, it ranks ahead of Amsterdam, Madrid, Frankfurt, Munich, Paris, and London.
The study does not imply that UBS is forecasting a drop in prices in Lisbon. The index points to a buildup of imbalances between real estate prices, household incomes, rental rates, lending volumes, and other fundamental indicators.
Kyiv was not included in this study.
Turkey has identified another 1,070 people who, according to the investigation, obtained Turkish citizenship through fake real estate transactions. This marks the second major wave of investigations into schemes involving the granting of citizenship through residential property investments.
Turkish Justice Minister Akın Gürlek announced the new operation on September 21. The investigation is being conducted by the Istanbul Chief Prosecutor’s Office in collaboration with police units responsible for combating illegal migration.
Investigators examined real estate transactions conducted through the companies Gül İnşaat, Beyaz İnşaat, and LİV İnşaat. The audit covered sales to 734 foreign nationals, with 274 transactions deemed fictitious or suspicious. The total value of the transactions exceeded 3.5 billion Turkish lira, or approximately $72 million.
According to the Turkish Ministry of the Interior, among the 1,070 people who obtained citizenship under these agreements, 263 were direct investors, while another 807 were their family members. Of these, 1,015 received citizenship at the same time as the initial decision, and another 55 children received it later. In addition, 11 individuals were identified whose citizenship application processes were still ongoing.
As part of the operation, judicial measures were applied to 2,011 real estate properties, one hotel, 86 vehicles, two yachts, and 42 bank accounts. State administrators were appointed to 30 companies. Legal proceedings have been initiated against 88 suspects, and dozens of people have been detained.
This is already the second wave of the investigation. The first major operation took place on August 4, 2026. At that time, the investigation established that another 687 people had obtained Turkish citizenship through artificially inflated appraisal reports and fictitious real estate sales. The prosecutor’s office has initiated proceedings to revoke their citizenship. In that case, authorities estimated the amount of investments that did not actually reach Turkey at approximately 2.5 billion lira.
Thus, the two most recent investigations in Istanbul alone involve at least 1,757 cases of citizenship acquisition linked to suspicious real estate transactions, when combining the 687 individuals from the first wave and the 1,070 from the second. However, these two figures pertain to specific criminal investigations and do not cover all reviews of investment-based citizenship in the country.
At the same time, the Turkish Ministry of the Interior has, for the first time, released broader statistics on the review of citizenship obtained through investment programs. According to the ministry, as of September 21, citizenship decisions had been revoked for 5,391 individuals, including investors and their family members. Additionally, citizenship was revoked after it had been granted for 743 individuals, specifically for reasons related to public order and national security. In total, this amounts to 6,134 individuals.
As of February 11, 2026, citizenship grants were separately revoked for 1,393 individuals associated with 458 investors whose documents certifying that their investments met the established requirements were annulled. Citizenship was also revoked from seven other individuals on grounds of national security and public order.
Turkish authorities have not published a breakdown of the 1,070 individuals implicated in the current investigation by their country of origin. No similar official breakdown was published regarding the 687 individuals identified in August either. Therefore, reports claiming a predominance of Russians, Iranians, citizens of Middle Eastern countries, or other nationalities in these specific cases are not currently supported by official documents.
The scheme being investigated by law enforcement agencies was based on fictitious or inflated real estate values and the simulation of required financial transactions. In some cases, real estate with a significantly lower actual value was valued much higher in the documents in order to formally meet the requirements of the citizenship-by-investment program.
Turkey allows foreign investors to apply for citizenship, specifically through the purchase of real estate valued at no less than $400,000. The property must meet established requirements, and the investment and flow of funds are subject to verification by government agencies.
According to the Relocation project, members of the Latvian “Progressive” Party have submitted a bill to the Saeima to abolish the option of obtaining a temporary residence permit through investments of at least 150,000 euros in a state-run alternative investment fund.
Bill No. 1521/Lp14 was introduced on September 3, and on September 10, the Saeima voted 65 to 17 to refer it to parliamentary committees for review.
The new Immigration Act, which takes effect on September 15, 2026, allows a foreign national to obtain a temporary residence permit for up to five years, provided they invest at least 150,000 euros for a period of at least five years through a state-established alternative investment fund manager. Additionally, the investor must transfer 10,000 euros to the state budget.
The “Progressives”’ proposal calls for removing this provision from the law. The authors of the initiative explain their position by citing risks related to national security, anti-money laundering, compliance with sanctions regimes, and the country’s international reputation. This is the position of the bill’s sponsors, not a decision already adopted by the Saeima.
At the same time, the bill does not abolish another investment mechanism for obtaining a residence permit—through an investment in the capital of a Latvian company. Under current law, a foreign investor may apply for a temporary residence permit, specifically, by making an investment of 50,000 euros in a company with up to 50 employees and an annual turnover or balance sheet total of up to 10 million euros, or an investment of 100,000 euros in a larger company. An initial fee of 10,000 euros payable to the state budget is also required upon initial application.
The new Immigration Law was adopted by the Saeima on August 20 and entered into force on September 15, 2026. It replaced the previous regulations governing investment-based residence permits and, in particular, eliminated the previously used grounds related to real estate purchases and subordinated bank deposits.
The fund mechanism was included in the new law following lengthy discussions in the Saeima. In June, Latvian President Edgars Rinkēvičs returned the law to parliament for reconsideration and specifically drew attention to the provision allowing the issuance of a residence permit in exchange for an investment of 150,000 euros in an alternative investment fund and a contribution of 10,000 euros to the budget.
For now, this is only a legislative proposal. To eliminate the investment-based residence permit, the amendments must undergo further review and be adopted by the Saeima.
INVESTMENTS, LATVIA, MIGRATION, REAL ESTATE, RESIDENCE PERMIT
