Ukraine's Deposit Guarantee Fund puts up for sale right to unfinished mall in Kyiv

Ukraine's Deposit Guarantee Fund has put up for sale its most expensive lot – the right of claim for loans of the liquidated Nadra Bank for more than UAH 2.72 billion, with the pledge being Ukraine's largest shopping and entertainment center Respublika, which is still under construction in Kyiv.

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Potential buyers have to apply before July 6 to take part in an auction to be held via ProZorro.Prodazhi system on July 7.

The Guarantee Fund stressed that the lot was put up for auction for the first time, with a starting price at UAH 2.5 billion.

Read alsoUkraine’s state debt up to $74.3 bln since year-startAccording to the fund, the lot represents the right of claim for two loans on the balance sheet of the liquidated Nadra Bank, while borrowing companies conduct economic activities in the areas of "construction" and "leasing and operating their own or leased real estate."

The collateral for the loans is the property rights to a site under construction – a multifunctional shopping and entertainment complex with parking, able to host 450 stores, a 22,000 square meter entertainment zone and a parking for 4,000 cars.

In addition, as a mortgage, the bank owns three land plots with a total area of 15.72 hectares and property rights under preliminary lease agreements for retail space in the shopping and entertainment center.

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