Ukrainian apart-hotel chain Apartel is considering the construction of a large wellness resort in Kyiv Region with a total investment volume of at least $50 million. The project is currently at the development stage, while the timeline for its implementation will depend on the security situation and investment climate.
This was reported by Apartel Resort partner Yevhen Kudriavchenko.
According to the preliminary concept, the new complex will be located on a 24-hectare site. The project provides for the construction of a hotel section with 150 rooms, as well as restaurant infrastructure, a SPA complex, several swimming pools and sports facilities.
According to Kudriavchenko, the company considers this project one of the most promising in its portfolio, but is not yet ready to announce the start of implementation due to the risks that remain for investors. In particular, large-scale missile and drone attacks on the capital region have a negative impact on investment activity.
After major attacks, investment activity may effectively stop for a period of three to six months, he said.
The company sees the main risk not as insufficient demand for resort real estate, but as the possibility of construction being suspended or frozen for security reasons. Nevertheless, the team continues to prepare the project documentation, expecting to be ready to start construction once investment conditions improve.
Apartel forecasts that after the end of the war, demand for resort and recreational infrastructure in Ukraine may grow significantly. According to the company’s estimates, in peacetime, assets of this format in Kyiv could generate returns of 10–12% per annum for medium-sized projects and up to 15% for the most successful ones.
The company also notes that the returns of hotel and recreational assets in the capital region may exceed those of similar projects in the Carpathian resorts due to a higher average check and a stable year-round flow of visitors. According to the operator’s calculations, additional demand will be driven by family events and the corporate segment.
The estimated construction period for the complex will be around three years from the start of the project’s implementation.
Apartel specializes in wellness and resort real estate. The chain currently operates properties in Uzhhorod, Shaian, Kosyno and Skhidnytsia. In May, the company also opened a new five-star wellness resort in Zakarpattia. In addition, the group is preparing to implement another large project in Poliana, Zakarpattia Region, which involves the development of a 600-room complex.
The chain is part of Apartel Resorts group, whose beneficiaries are Vasyl Krulko, Serhii Maksymenko, Mykola Vaskiv and Yurii Kalyniuk.
