State Property Fund sold the Hermitage hotel in Kyiv for a record UAH 311 million

State Property Fund sold the Hermitage hotel in Kyiv for a record UAH 311 million

The amount of the winning bid for the Hermitage Hotel has grown almost 15 times from the initial cost

The State Property Fund held a privatization auction of two buildings in the center of Kyiv, the premises of the Hermitage Hotel. 39 participants took part in the auction in the Prozorro.Sales system.

SPFU Chairman Rustem Umerov noted that business shows high activity, ability and desire to work, which results in the development of entrepreneurship, the resumption of business activity, the growth in the number of jobs and the increase in funds raised from privatization, which the SPFU allocates to support the Defense Forces of Ukraine.

The State Property Fund emphasized that this is currently the most winning bid among all auctions since the start of the resumption of small-scale privatization in September 2022.

The winner of the auction got:

  • a five-story storey building with a total area of 3165.8 m² (facade building with a basement);
  • four-storey building in the courtyard with a total area of 1963.3 m².

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