16:18 01.12.2023

Investors demand reshuffling Kyivmiskbud's supervisory board, management

2 min read

 An initiative group of investors in housing construction by Ukrbud and Kyivmiskbud holding company demands a change in the composition of Kyivmiskbud's supervisory board and management to improve its activities.

"We demand that the activities of Kyivmiskbud's supervisory board be recognized as non-credible, not sticking to their charter and obligations to thousands of investors. It is necessary to terminate the powers of current members and elect new ones to the supervisory board of PJSC Kyivmiskbud Holding Company to get the enterprise back on track and start the reorganization process, bring construction at all the company's residential complexes to a normal pace," Denys Boiko, a representative of the initiative group of investors of the Raiduzhny residential complex, said at a press conference at Interfax-Ukraine.

According to him, the corresponding appeal with investors' proposals has been sent to the mayor of Kyiv, Vitali Klitschko.

Investors also insist on creating a transparent roadmap to improve Kyivmiskbud's activities and a schedule for the unfinished facilities under the company's declared obligations.

Initiative groups also demand that a working group with representatives of both investors and city authorities is organized to monitor the implementation of the developer's obligations.

As Kyivmiskbud's press service told Interfax-Ukraine, of the 17 Ukrbud residential complexes taken for management, where construction was restored, 11 have already been fully or partially put into operation. The total volume of completed housing is 390,000 square meters which is over 4,200 apartments.

According to the holding company, as of April 1, 2023, activities worth UAH 3.5 billion have been completed on Ukrbud facilities. At the same time, proceeds from the sale of real estate after the transfer of facilities was only UAH 2.1 billion, and proceeds from Zhytlo-Capital financial company totaled UAH 667,500.

In addition, there is debt under installment agreements for the company's own projects, Kyivmiskbud said. Thus, the balance of payments in the Milos residential complex is UAH 22.7 million, in the Kryrylivsky Hai residential complex is UAH 11.4 million, the Charivne Misto residential complex UAH 26.5 million, and the Urban Park residential complex UAH 8.6 million.