The Kyiv Gulliver shopping and entertainment center has been valued at UAH 7.6 billion, a competition is being prepared
The Asset Recovery and Management Agency (ARMA) announced a valuation of the Gulliver shopping and entertainment center (Tri O LLC, Kyiv) at UAH 7.6 billion and is preparing a competition to select a manager, the ARMA press service reports. Its press release specifies that the appraiser – the private enterprise Business Consulting, chosen in a transparent competition – provided the National Agency with a valuation report and a review of the report dated October 9, 2024. According to
The Asset Recovery and Management Agency (ARMA) announced a valuation of the shopping and entertainment center Gulliver (Tri O LLC, Kyiv) at UAH 7.6 billion and is preparing a competition to select a manager, the ARMA press service reports. Its press release specifies that the appraiser – the private enterprise Business Consulting, chosen in a transparent competition – provided the National Agency with a valuation report and a review of the report dated October 9, 2024.
According to the valuation, the value of the Gulliver shopping and entertainment center is UAH 7.6 billion. After processing all the information and preparing the tender documentation, ARMA will announce a competition to select the manager of the property. The Gulliver multifunctional complex was transferred to ARMA's management by a decision of the Shevchenkivskyi District Court of Kyiv dated June 3, 2024 and of the Kyiv Court of Appeal dated June 25, 2024.
It was previously reported that on June 3 this year the Shevchenkivskyi District Court of Kyiv granted the motion of the Office of the Prosecutor General to transfer the Gulliver multifunctional complex to ARMA's management. The prosecutor's motion concerned solely the transfer of the property to ARMA for management, not for sale. In addition, the court obliged ARMA to carry out periodic (at least once a month) reviews of the effectiveness of the asset's management.
The owner of the asset stated its intention to appeal the decision to the court of appeal. The said motion of the Office of the Prosecutor General was filed as part of a criminal investigation by the Bureau of Economic Security (BES) into the possible evasion by the complex's management of almost UAH 146 million in taxes. The BES issued the corresponding notice of suspicion to the director of the Gulliver complex in May 2023. On April 9, 2024, the Kyiv Court of Appeal granted the prosecutor's motion and decided to seize the property of Tri O LLC, which includes the Gulliver retail and office center in the capital.
Earlier, an investigation by the program Skhemy (Schemes) reported the company's financial obligations to the state-owned Oschadbank and Ukreximbank in the amount of UAH 14 billion. It was alleged that the actual owner of the complex is the former owner of Mykhailivskyi Bank, Viktor Polishchuk. At the same time, the state register lists Viacheslav Ihnatenko as the ultimate beneficiary.
The complex's press service noted that Tri O is fulfilling its obligations to Oschadbank and Ukreximbank to repay the loans: UAH 300 million was paid in 2023, and repayment of UAH 700 million is planned for 2024. The company believes that the removal of Gulliver from the ownership and management of Tri O could become a threat to the fulfillment of obligations to the banks.
The Gulliver multifunctional complex in the Pechersk district of the capital opened in 2013. Its area is 151.8 thousand sq. m. Construction Gulliver was financed by Oschadbank, which provided Tri O LLC with a $460 million loan. The procedure for restructuring the debt under the loan agreement with a mortgage on the Gulliver shopping and entertainment center, in the amount of UAH 18 billion 176.9 million, was completed in 2020.