The Commercial Court of Kyiv has ordered the return to state ownership of the International Center of Culture and Arts complex, formerly known as the October Palace, located in central Kyiv and valued at approximately UAH 1 billion. The property, with a total area of nearly 17,600 sq m, was previously owned by the Federation of Trade Unions of Ukraine (FPU).
Under the court ruling dated August 3, the complex of buildings located at 1 Alley of the Heroes of the Heavenly Hundred is to be returned to the state, represented by the State Property Fund of Ukraine (SPFU). The court also revoked the FPU’s ownership certificate for the property and cancelled the state registration of its ownership rights.
The ruling has not yet entered into force and may be appealed.
The Kyiv City Prosecutor’s Office said the property is a cultural heritage site of national significance and one of Ukraine’s largest concert venues. According to the SPFU, the estimated value of the complex is approximately UAH 1 billion.
The October Palace was built between 1838 and 1842 to a design by architect Vikentiy Beretti as the main building of the Kyiv Institute for Noble Maidens. In 1979, the building was granted the status of a monument of national significance. The property is included in the list of cultural heritage assets that are not subject to privatization and may only be held in state ownership.
At the same time, the FPU disputes the state’s position and maintains that the palace has never been state-owned. According to the trade union federation, following renovation works financed by the Council of Industrial Cooperation in 1958, the building was transferred free of charge to the Ukrainian Republican Council of Trade Unions in 1960. In 1990, the property was assigned to the Federation of Independent Trade Unions of Ukraine, which was later renamed the Federation of Trade Unions of Ukraine.
The trade unions also refer to a 2006 ruling by the Commercial Court of Kyiv, which ordered the city authorities to formalize and register the FPU’s ownership rights to the October Palace complex.
If the latest court ruling ultimately enters into force, the state will gain control over one of the most valuable historic real estate assets in central Kyiv — a 17,600 sq m complex with an estimated value of approximately UAH 1 billion.
