ARMA opens tenders for management of Zakharchenko’s luxury real estate: the state is trying to return economic benefits from seized assets
8 December 20:55
The Asset Recovery and Management Agency (ARMA) has announced open tenders to select managers for the seized real estate of former Interior Minister Vitaliy Zakharchenko, "Komersant Ukrainian" reports.
These are premium properties in the center of the capital that have been left without effective use for years.
Elite assets under state control
Several lots have been put up for sale on the Prozorro platform: a residential building of more than 600 square meters near the Kyiv Pechersk Lavra, four land plots, a spacious apartment in Pechersk, and two parking spaces. These properties were seized in 2021 as part of criminal proceedings and transferred to the ARMA.
Acting Head of the Agency Yaroslava Maksymenko emphasized that the tenders create an “open and competitive procedure” that will allow the seized real estate to be turned into an asset that generates income for the state.
Search for professional managers
ARMA invites companies with experience in real estate: developers, realtors, operators of residential and commercial facilities. National and international market players can submit proposals by 18:00 on December 18, 2025.
The goal is to ensure effective management through lease, development or other legally prescribed mechanisms so that the assets do not lose value and bring economic benefits.
The move regarding Zakharchenko’s assets comes amid a broader trend – the state seeks to ensure not only the seizure but also the real economic return on property involved in criminal proceedings. Earlier, the HACCU had already satisfied the claim of the Ministry of Justice to confiscate some of the former minister’s assets, and the prosecutor’s office returned the family land plots to state ownership.
Zakharchenko’s case is one of the most high-profile in the list of Yanukovych-era assets. The prosecutor’s office and the investigation found that his family received income from companies with signs of fictitiousness that ceased operations more than a decade ago.
New tenders may become a test for the effectiveness of ARMA reform
The new tenders may become a test of the effectiveness of the ARMA reform and the transparency of the management of seized assets. If the state is able to attract reliable managers, luxury real estate, which until recently was a symbol of corrupt practices, may turn into a source of real revenue.
So far, the results of the selection will be known after the end of the application process in December, and the effectiveness of the model will be seen in the following years of asset management.
