Kyiv symbols in the spotlight: Krippa explains why he bought the Parus and the Ukraina Hotel
19 December 2024 10:12
Maksym Krippa, a previously little-known businessman, has attracted attention for buying two iconic buildings in the center of Kyiv – the Parus skyscraper and the Ukraina Hotel on Maidan Nezalezhnosti. In an interview with Forbes, he said that the main criterion for investment was the uniqueness and symbolic value of these objects, "Komersant Ukrainian" reports.
During the full-scale war with Russia, Krippa became the owner of several iconic assets. He bought the capital’s Parus business center from Vadim Stolar. From the state – the Ukraine Hotel, located between Independence Square and the Presidential Office.
Krippa explains his choice by focusing on unique properties.
“I’m only interested in iconic places, brand names, something unique that cannot be replaced due to the location,” he said.
The businessman emphasizes that his investments are not a way to “park” the hryvnia due to military restrictions that make it difficult to withdraw capital abroad. On the contrary, he said, these investments were made possible thanks to the foreign currency funds he brought to Ukraine.
Parus: a bargain
One of the key assets acquired by the businessman was the Parus skyscraper in the center of Kyiv. Krippa admits that the deal was profitable because he did not pay the full amount at once and also took over a UAH 600 million loan left by the previous owner. This makes the deal’s valuation of $80-100 million, which was previously published in the media, overstated.
“It’s just a commercially viable deal that I couldn’t pass up,” he said.
According to him, despite the war, Parus remains profitable.
Privatization of the Ukraina Hotel: a unique opportunity
Krippa described the acquisition of the Ukraina Hotel as a once-in-a-lifetime opportunity.
“Hotel Ukraina is like the Mona Lisa. It is so unique. After the war, I would like to see a great luxury hotel there. Maybe a Four Seasons Ukraine. When peace comes, such assets will be worth two to three times their current value, and even more after renovation,” he explained.
What we know about Maxim Krippa
Maksym Krippa is a businessman from Brovary who now lives in the United Arab Emirates. His name began to appear in the media after he started buying up expensive real estate in Kyiv and Kyiv region.
According to his LinkedIn profile, Krippa graduated from the International Christian University in Kyiv in the nineties with a degree in business administration. He then earned a master’s degree in the same field at the European University, and later studied for a master’s degree in law at the Taras Shevchenko National University of Kyiv.
In 2006, Krippa opened Monaco Club, a limited liability company in Brovary that was engaged in gambling. According to the YouControl analytical system, he was on the list of founders of this company until 2015.
In 2009, Krippa became the owner of the Brovary Wholesale Market. He is still the ultimate beneficiary of the market with a 99.8% share of the authorized capital.
In 2015, Krippa ran for the Kyiv City Council as a member of the Samopomich party. In addition, Krippa has been a pro bono assistant to three MPs: Ivan Bokyi of the Socialist Party in 2006-2007, Valeriy Babenko of the Yulia Tymoshenko Bloc in 2007-2012, and Ruslan Lukyanchuk of the Yulia Tymoshenko Bloc in 2007-2012.
In July 2022, Krippa became known for the acquisition of the world champion esports club NAVI. Forbes reported that the agreement on the transfer of rights to NAVI took place in 2018. Later, it became known that Krippa acquired GSC Game World, the developer of the S.T.A.L.K.E.R. game.
Another esport asset of Krippa is the Maincast esports broadcasting company. It was founded in 2018.
In 2023, the ownership structure of GSC Game World, the company that developed S.T.A.L.K.E.R., was changed in the state registers.
