Automatically translated version. May contain inaccuracies compared to the original.
President of Kyivmiskbud Ihor Kushnir asks investors to continue financing construction
After a prolonged pause, Kyivmiskbud (KMB) resumed construction work in four residential complexes: Urlovskyi-1, Urlovskyi-2, Mirax, and Abrikosovyi.
But continuing the work depends on a steady inflow of funds, says the company president Ihor Kushnir.
“Since February 2022, investors have almost stopped paying for square meters purchased under installment agreements and have generally stopped buying new housing. The amount owed by just the investors who bought property on installments from Kyivmiskbud is 326 million UAH,” he reported.
According to Kushnir, the problem of nonpayments is compounded by another — the rise in construction material prices, which increased by 50–60%, and higher transportation logistics costs, while the company operates using investors’ funds and has no other sources, such as subsidies from the city or the state.
At one time KMB was handed unfinished residential complexes from the company Ukrbud, which “collapsed” in 2019. To date, Kyivmiskbud has commissioned fully or partially 11 out of 17 Ukrbud residential complexes. But the fate of the remaining “inherited” construction sites depends on funds coming from Ukrbud’s construction financing fund — LLC Zhitlo-Capital. “More than 400 million UAH of Ukrbud investors’ money still needs to be transferred to Zhitlo-Capital. That is, overall, the company expects from people who bought property on installment agreements more than 700 million UAH in outstanding payments,” Kushnir says.
But regarding LLC Zhitlo-Capital, controlled by former Ukrbud owner Maksym Mykytas, it’s not so simple. Although this financial company accumulated investors’ funds on its accounts for years, they are now empty. According to the National Securities and Stock Market Commission, Zhitlo-Capital is hiding about 3,7 billion UAH of operational reserve funds. Large sums of investors’ money, instead of being placed in a bank (as the law requires), were transferred to some LLC “Kasa narodnoyi dopomohy,” which, according to media reports, is also linked to former Ukrbud owner Maksym Mykytas.
Recall that the National Anti-Corruption Bureau (NABU) sent an indictment to court against former deputy and former head of Ukrbud Maksym Mykytas, exposed attempting to bribe the mayor of Dnipro, Borys Filatov, for 22 million euros. According to the investigation, in October 2022 he offered the mayor a bribe to award a contract for metro construction without a tender. Mykytas is also charged with embezzling 81 million UAH in connection with the substitution of a housing facility for the National Guard.
Document: PDF proof of the original version of the news item "Президент «Київміськбуду» Ігор Кушнір просить інвесторів продовжити фінансування будівництва". It records the publication content at the moment of the first scan, the preservation date and the source: ANTIKOR.