The auction for the sale of the Gulliver shopping and office complex in Kyiv did not take place due to the absence of bids, Oschadbank said on Telegram on Wednesday evening.
“In view of this, the supervisory boards of Oschadbank and Ukreximbank will determine the further strategy for selling the asset, taking into account the market situation, the readiness of potential investors and security risks,” the bank said.
As reported, state-owned Oschadbank and Ukreximbank put the Gulliver shopping and office complex up for an open auction via the Prozorro.Sale system at the end of August, with a starting price of UAH 9.2355 billion excluding VAT ($207 million).
The lot included the shopping and office complex with a parking facility, with a total area of 151,805 square metres, at 1-A Sportyvna Square in Kyiv, as well as two land plots with a combined area of 1.2512 hectares. Oschadbank owns an 80% share in the property, while Ukreximbank owns 20%.
The sale was to become the final stage in the foreclosure of collateral securing one of the largest problem corporate loans in the banking system.
The state bank consortium began financing construction of the complex in 2006, and it was commissioned in 2014. After several restructurings, Tri O LLC, which owned Gulliver, began reducing loan payments in June 2024 and subsequently stopped servicing the debt altogether.
On July 26, 2025, a decision was made to register ownership of the complex to the Oschadbank-Ukreximbank consortium following foreclosure on the mortgaged property due to Tri O LLC's failure to meet its obligations under the loan agreement.
At the end of October 2025, Oschadbank's emergency commission declared the situation at the complex dangerous for people and its operation, in particular because employees of Tri O LLC had refused to hand over critical engineering utilities for management. In December, the bank began reopening the complex in stages after eliminating some of the causes of the emergency situation.
