Public joint-stock company Kyivmiskbud Holding (Kyiv), one of the largest constructors in Ukraine, will focus on construction in Kyiv and does not plan to develop new construction projects in the regions of Ukraine, Kyivmiskbud Board Chairman and President Ihor Kushnir has said in an interview with Interfax-Ukraine.

"… We've almost left the regions. We don't plan to continue the projects [in Yalta, Luhansk and Odesa]. I think that even the name of the company Kyivmiskbud points to the fact that first of all, this is construction in Kyiv. The region have their own constructors, who know local economy better," Kushnir said.

He said that last year the holding finished building 27,000 square meters in the regions and commissioned them: 15,000 square meters in Bucha (Kyiv region) and 12,000 square meters in Zhytomyr.

At present, the company has several housing projects at the stage of construction – in Yalta, Luhansk and Odesa. This year it is planned to commission a building with 93 apartments with total area of 8,000 square meters in Oreanda in Yalta.

Kushnir said that construction in the regions today is unprofitable for Kyivmiskbud: the small price and large expenses for construction when the margin is almost a zero. In addition, the remoteness of projects in the regions from the head office of the holding complicates supervision.

"We have around 1.5 million square meters in the regions in plans without construction sites," he added.

Kyivmiskbud was set up on the basis of municipally owned construction corporation Kyivmiskbud in 1994 through the merger of controlling stakes in 28 enterprises and other assets in its charter capital.

Kyivmiskbud consists of 47 open joint-stock companies, in which the holding owns shares, along with 21 associated members. Kyiv municipal community owns an 80% stake in the holding.