The Dnipro and Graal hotels may be merged into a single mega-project: what will change in downtown Kyiv
9 April 13:52
Businessman Maxim Krippa has officially become a co-owner of the Dnipro Hotel in Kyiv. The hotel, located on European Square in Kyiv, will become part of a new multifunctional complex planned for construction on Khreshchatyk Street. This was reported by his press service, according to "Komersant Ukrainian"
The statement notes that participation in the project opens up an opportunity for Krippa to invest in the property and further consider its transformation alongside the adjacent “Graal” development project.
The press service did not specify exactly what stake Krippa acquired. At the same time, they emphasized that this stake is not a controlling one, but it allows for participation in investing in the hotel.
What are the plans for the “Dnipro” hotel?
According to Maxim Krippa, a multifunctional complex could be created in the center of Kyiv, which would include an international-class hotel, residences, as well as retail and office space. Among the possible concepts being considered is the involvement of global hotel operators such as the Ritz-Carlton or Four Seasons.
The estimated investment in such a project could exceed $250 million, depending on the final concept and technical solutions.
The businessman’s press office emphasized that the implementation of such a project will directly depend on the security situation in Ukraine. Krippa stated that during the war, international brands are not ready to enter the Ukrainian market, but conditions could change rapidly once hostilities end.
Why the Dnipro Hotel was previously linked to Krippa
The Dnipro Hotel was privatized back in 2020. At that time, the State Property Fund’s open auction was won by the company Smartland, which offered 1.1 billion UAH—almost 14 times the starting price. After the auction, businessman Oleksandr Kokhanovskyi identified himself as the buyer; however, journalists noted that the winning company was registered in Brovary at an address linked to Maksym Krippa.
It is precisely because of this circumstance that the market and the media have long linked the asset to Krippa, although official confirmation has only now emerged. LIGA.net notes that from the very beginning after privatization, Krippa’s name had been mentioned in connection with this deal, though his representatives denied it at the time.
What is known about the owner company
As of April 9, 2026, the public records listed Oleksiy Igunin, with a stake of over 82%, and Maksym Tereshchuk among the beneficiaries of Smartland LLC, which owns the Dnipro Hotel.
At the same time, Maxim Krippa’s press service has now officially confirmed his inclusion among the asset’s co-owners.
How this relates to the “Grail” project
Krippa’s plans for the Dnipro Hotel are directly linked to the “Grail” development project in central Kyiv. Previously, Forbes Ukraine and other media outlets reported that Krippa had taken an interest in the company that holds the rights to develop the plot on Khreshchatyk where “Grail” is located. In February 2026, media outlets reported that the AMCU had granted permission to a fund linked to Krippa to acquire control over this asset.
If these projects are indeed combined, this would represent one of the largest potential development projects in central Kyiv. It could combine hotel, residential, retail, and office functions in the area around European Square.
What other assets does Maksym Krippa own?
Maksym Krippa has a significant real estate portfolio in Ukraine. In particular, he owns the Parus business center in Kyiv, the Ukraine Hotel, the International Exhibition Center, and other commercial real estate properties.
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