From Kushnir to Samsonova: Kyivmiskbud managers change, problems remain
18 August 14:24
The deadline for the receipt of funds for the recapitalization of Kyivmiskbud has been shifted to the end of November. The company promises to use the funds to complete residential buildings with a high degree of completion, the company’s press service reports .
According to Svitlana Samsonova, acting president of Kyivmiskbud, the company is in the process of formulating a comprehensive development strategy, as well as marketing and advertising strategies. The new head announced this during a regular meeting with initiative groups of investors who have been waiting for their housing for years.
Previous attempts to obtain additional capitalization or assistance from the state in 2020-2023 were unsuccessful, and the then president of Kyivmiskbud, Ihor Kushnir, resigned. This was preceded by a media scandal where Kushnir was accused of dishonesty. To check the developer, a Kyiv City Council control commission was formed and an audit was conducted. No violations were found, and Ernst & Young’s financial forecast determined the amount of money needed for the completion and identified the causes of the problems that began before the full-scale war. In 2020, the Cabinet of Ministers ordered Kyivmiskbud to complete 18 problematic Ukrbud residential complexes, which became an additional financial burden. The situation was exacerbated by the COVID-19 pandemic, falling demand, and then the Russian invasion.
Ihor Kushnir was reinstated in his position, but in December 2023, he left the company of his own free will. “Vasyl Oliynyk took over, but the change of leadership did not speed up the process much, and the Kyiv City Council decided to allocate UAH 2.56 billion for the recapitalization of Kyivmiskbud almost a year later, in October 2024. The funds have not yet been received, Oliynyk has given way to his deputy Svitlana Samsonova, and now she promises that the money will be there by the end of November.
However, this amount is no longer enough, so Kyivmiskbud wants to receive an additional UAH 2.28 billion in compensation from the state for the completion of Ukrbud’s facilities. Together, these amounts should cover the company’s needs of UAH 4.84 billion.
