Major developer RIEL is strengthening its position in Kyiv after receiving approval from the Antimonopoly Committee of Ukraine to acquire Estate Develop, the company behind a residential project in the capital’s Shevchenkivskyi district.
On May 21, the Antimonopoly Committee of Ukraine granted RIEL Development Group LLC permission to acquire control over Estate Develop LLC, effectively clearing the way for the transaction to be completed.
According to YouControl, the owners of Estate Develop are Olha Pavlova with a 96% stake and Stanislav Shchebkovskyi with 4%. The company is also the legal successor to Sokolnyky-Estate, which won an auction in 2021 to purchase a 5,400 sq. m production building on Bohdana Havrylyshyna Street in Kyiv’s Shevchenkivskyi district. The property was later designated for redevelopment into a multi-apartment residential building, which became the basis for the current development project.
The buyer, RIEL Development Group LLC, was registered in February 2024. The company’s ultimate beneficiary is Rostyslav Melnyk. Its charter capital amounts to UAH 10,000.
Founded in 2003, RIEL is one of the active players in Ukraine’s residential real estate market and operates in Kyiv and Lviv. According to LUN, the developer has already completed 84 buildings within 34 residential complexes and is continuing construction of another 49 buildings across 14 projects.
The transaction allows RIEL to expand its project portfolio in Kyiv and strengthen its presence in one of the most competitive segments of the capital’s real estate market — the redevelopment of industrial properties into residential projects.
