The conditions of bank financial monitoring in Ukraine requiring the confirmation of money origin often result in difficulties with purchase of apartments and houses by citizens, KAN Development Honorable President Ihor Nikonov has said.

"We see more often that ordinary people cannot buy apartments due to tough financial monitoring requirements. When a bank transaction is to be made, the necessity of proving the origin of the money used for purchase of apartments appears. Many people say that they do not have such a possibility. We put away money for the whole life. Earlier no one demanded this, and now the bank cannot sign deals for over UAH 150,000 [without financial monitoring]… Many people refuse to buy apartments," Nikonov told Interfax-Ukraine.

He believes that purchase of apartments and houses is investment in the country's economy, and the requirement to prove the origin of money should be introduced gradually.

KAN Development LLC was established in 2001.

The portfolio of the company's implemented projects in Kyiv includes residential complexes Comfort Town, Central Park, residential complex of business class Tetris Hall business class, Senator business center, Ocean Plaza shopping mall (the partners of the project are Ukrainian Development Partners (UDP), and KAN Development), 101 Towers class A business center, Diamond Hill residential complex, Parkove Misto residential complex (partners of the project are UDP and KAN Development), Arena City shopping and leisure center, ARENA Entertainment center, Dominant business center, commercial parking White Cape and one at 49A, Volodymyrska Street, and IQ Business Center.