According to Mahmo.org, the transfer of ownership rights was contingent on AMCU's approval for concentration, marking the final step in this high-profile privatization process. The approval grants Ola Fine control over the hotel's property complex, which spans 26,300 square meters. However, the land plot of 1.51 hectares beneath the hotel was excluded from the agreement.
Maksym Krippa: Expanding His Real Estate Portfolio
Ukrainian investor and successful businessman Maksym Krippa
Businessman Maksym Krippa is widely recognized as a prominent Ukrainian investor with a diversified esports, IT, and real estate portfolio. His holdings include:
- The globally acclaimed esports organization NAVI.
- The broadcasting platform Maincast.
- The renowned video game developer GSC Game World.
In recent years, Krippa has made strategic acquisitions that have reinforced his influence across multiple sectors. These include the Parus business center in Kyiv and a luxurious estate in Kozyn. With the acquisition of Hotel Ukraina, Krippa continues solidifying his reputation as a significant player in Ukraine's business and investment landscape.
A Landmark Privatization Amid Wartime Challenges
The sale of Hotel Ukraina represents a landmark event, as it became the first major privatization completed via the Prozorro auction platform during the ongoing war. Held on September 18, the auction saw fierce competition among three bidders: Maksym Krippa's Ola Fine, Vadym Hryhoriev's Zhytomyr Furniture Factory, and Serhii Spodin's Alarit-Prom. The initial bid of 1.047 billion UAH eventually surged to 2.512 billion UAH, reflecting the high demand for this iconic property.
Krippa has already outlined plans for a full-scale hotel renovation after the war. The agreement also ensures the continuation of the hotel's operations, protection of employee rights, and settlement of its outstanding debts. This transaction underscores Ukraine's economy's resilience and serves as a testament to the enduring appeal of its real estate market even during challenging times.