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Automatically translated version. May contain inaccuracies compared to the original.
While the capital lives under sirens and the budget is cracking from war expenditures, a story has unfolded around apartment procurements at JSC HC “Kyivmiskbud” that looks more like a classic siphoning scheme labeled “for our own.” Although Ihor Kushnir has not led the company for over a year, the trail of suspicion continues — touching officials, developers, and connected businessmen.
The essence is simple and at the same time cynical: the municipal enterprise FC “Zhyttia-Invest” in 2022–2023 years purchases apartments with budget funds — but not directly from the developer, rather through “intermediaries.” And these intermediaries are strikingly linked to the Kushnir family, businessman Oleksandr Hlimbovsky, and MP Dmytro Isaienko.
The scheme looks like this: first apartments at Kyivmiskbud are bought for about 2,3–2,5 million UAH. Then, after the Kyiv City Council decision to allocate 2 billion UAH for housing purchases, those same units are resold to Zhyttia-Invest — but already at 3,9–4,2 million UAH. The markup — up to 68%. And all this — during a full-scale war.
The Security Service of Ukraine’s Bureau of Economic Security examined the scheme within criminal proceeding No. 12023000000000905. The suspects were preliminarily accused of a range of serious articles — from embezzlement of property to money laundering and official forgery. But since the beginning of 2025 year there has been silence about active steps in the case. Formally, the investigation could be resumed if there is political will.
Lawyer and human rights advocate Oleksandr Diaduk publicly stated: the city may have overpaid hundreds of millions of hryvnias. And while Kyiv was searching for money for shelters, generators, and energy protection, 2 billion hryvnias went to apartments that could have been purchased much more cheaply.
Among the companies through which the apartments were sold are:
✔️JSC “ZNIKIF “Kovernod”
✔️JSC “ZNIKIF “Amtel”
✔️JSC “ZNIKIF “Knyahynia Yaroslava”
✔️PE “Real Estate Agency “Riel Kyiv”
✔️JSC “ZNIKIF “Minkar”
✔️JSC “ZNIKIF “Weber”
Some of them are linked to the Kushnir family — in particular his wife and children. Others are connected to Hlimbovsky’s business circle, Isaienko, representatives of the Liko‑Holding group, as well as individuals previously associated with Chernovetskyi Investment Group.
A telling example is the story of the Kovernod fund, which acquired apartments under contracts with deferred payment. That is, the developer might not have actually received funds immediately. Meanwhile the municipal enterprise was already paying the full, substantially higher price.
During the repeated allocation of funds in November 2023 some deputies openly stated: the price of 55 thousand UAH per square meter is too high, and the efficiency of using the previous 567 apartments is doubtful. Nevertheless, there were enough votes.
At the same time, Ihor Kushnir’s son — Illia Kushnir — voted for the corresponding decision. He later resigned his deputy mandate.
After Kushnir’s dismissal Kyivmiskbud experienced several leadership changes: Vasyl Oliinyk, Svitlana Samsonova, Dmytro Nykiforov, Valerii Zasutskyi. The city recapitalized the company by 2,56 billion UAH. But construction of many projects, including the problematic legacy of Ukrbud, has not been fully resumed.
The situation resembles a closed loop: billions are poured in, but construction sites stand idle, and new procurements are accompanied by scandals.
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