Maksym Krippa, a prominent Ukrainian businessman, recently discussed his decision to invest over $100 million in Kyiv’s real estate market during the war. ABiznes highlighted insights from his interview with Forbes Ukraine, emphasizing his strategic use of foreign resources to strengthen Ukraine’s economy in difficult times.
Strategic Real Estate Investments
In 2023, Maksym Krippa acquired the Parus Business Centre and a luxury estate in Kozyn. A year later, he finalized the purchase of the Ukraina Hotel for UAH 3 billion. These transactions were executed through his Ukrainian company, Ola Fine, using funds sourced from abroad.
“I transferred the majority of the payment from my foreign company, bringing much-needed currency into Ukraine. Every step, from financial monitoring to security clearances, was approved by Ukrainian authorities,” Krippa stated.
The Parus Business Centre, sold with approximately UAH 600 million in debt, has proven profitable, with an occupancy rate of 90%, significantly higher than Kyiv’s average of 70-75%.
Ukraina Hotel: A Symbol of Legacy
For Maksym Krippa, the Ukraina Hotel holds sentimental value. His grandfather, Ivan Kravchenko, once headed the Trade Union of Cultural Workers of Ukraine, whose office was near the hotel. “It’s not just a business asset; it’s a legendary symbol tied to Ukraine’s independence,” Krippa explained.
Although he views the hotel as a long-term investment, he has significant plans for its future after the war, potentially transforming it into a Four Seasons Ukraine. “This is a once-in-a-lifetime opportunity. When peace comes, such assets will double or triple in value,” he noted.
Why Not Kozatsky Hotel?
Krippa declined to purchase the Kozatsky Hotel due to its poor structural condition. Expert assessments revealed that redevelopment would be more practical, but such projects face regulatory hurdles.
Future Projects
Krippa envisions turning his Kozyn estate into a corporate base for NAVI or even a SHA Wellness Clinic. While he is ready to proceed, international investors remain cautious due to the ongoing conflict.
A Multifaceted Vision
Beyond real estate, Krippa is an active player in esports, owning NAVI and other ventures. His investments demonstrate a commitment to Ukraine’s economic future, even in challenging times.
