Kyiv Mayor Vitali Klitschko has instructed Kyivmiskbud Holding Company to audit the Evryka, Patriotyka and Patriotyka on the Lakes residential complexes of the Construction Financing Fund managed by Arcada Bank in order to complete the construction of the facilities.

"Kyivmiskbud will conduct an audit on the completion of the residential complexes. According to its results, investors will be offered an algorithm for completing the construction of the residential complexes Evryka, Patriotyka and Patriotyka on the Lakes. I have already given the relevant instructions and I hope in a few months we will receive more detailed information about this," Klitschko said during a press conference on the situation with Bank Arcada.

He stressed that the preliminary completion date of the facilities will be known after the audit. The mayor also added that the financial condition of Kyivmiskbud allows the company to deal with the issue of solving the problems of unfinished projects in Ukrbud and Arcada.

According to the website of Bank Arcada, managing investments in the construction of the residential area, Patriotyka on the Lakes is a geographical continuation of Patriotyka. The residential area is being built between the lakes Tiahle and Nebrezh.

The Patriotyka on the Lakes project includes 43 residential buildings with a height of 26-27 floors, a hospital, three schools, kindergartens (three detached and three attached), two shopping centers and additional infrastructure.

Earlier, in 2019 investors in the capital's residential complexes Patriotyka and Evryka appealed to President of Ukraine Volodymyr Zelensky with the demand to intervene in the situation with the suspension of construction of the facilities and announced their intention to conduct a self-accommodation action.

As reported, on August 25 the National Bank of Ukraine declared Bank Arcada (Kyiv) insolvent. As of July 1, 2020, in terms of total assets, the bank ranked 45th (UAH 1.902 billion) among 75 banks operating in the country.