For the first time in history: 38 thousand Ukrainians bought a shopping center in Vinnytsia for one and a half billion hryvnias
1 December 2025 18:05
37,933 Ukrainians who are investors in the Inzhur REIT fund have jointly purchased the most traffic shopping and entertainment center in Vinnytsia, Sky Park. The transaction amount is UAH 1.513 billion. This makes the purchase of the Vinnytsia mall one of the most expensive deals in Ukraine during the full-scale invasion, which will also bring more than UAH 115 million in taxes to the state budget. The main feature of the deal is that for the first time in the Ukrainian real estate market, an object of this scale has become the joint property of tens of thousands of Ukrainians.
What does the purchase of Sky Park mean for investors and the state ?
“A few years ago, only professional investors with large checks became co-owners of Sky Park-level facilities. For the majority of Ukrainians, participation in such projects was unattainable,” comments Andriy Zhurzhiy, CEO of Inzhur. “Thanks to the Inzhur REIT fund, investments in large commercial facilities become available to everyone, as the minimum investment in the fund is from UAH 10. And here is the first deal of this scale: a profitable Vinnytsia shopping center is now owned by almost 38 thousand Ukrainians. This changes the rules of the game in the real estate market.”
Sky Park shopping center with an area of 30 thousand square meters is located in the central square of Vinnytsia. It is the city’s most traffic shopping center. It has more than 150 tenants, including international companies such as Bershka, Pull&Bear, Stradivarius, Levi’s, Colin’s, and KFC. There is not a single vacant space in the building, and there is already a waiting list of applicants. In addition to shops and restaurants, Sky Park has a modern SmartCinema cinema with seven halls, a fitness club and a coworking space. According to Inzhur’s calculations, Sky Park will generate 15% annualized return in foreign currency for Inzhur REIT.
On November 20, the Antimonopoly Committee of Ukraine approved the acquisition of Sky Park for UAH 1.5 billion. The AMCU thoroughly reviewed all parties to the transaction and the transparency of the purchase process. For investors of Inzhur REIT, this means that their participation in a major transaction is protected and meets all the requirements of the law. And for the state, it means significant budget revenues, as Inzhur has paid UAH 115 million in taxes as a result of the deal.
Inzhur team near the Sky Park shopping center in Vinnytsia
How Ukrainians managed to buy Sky Park shopping center
The co-owners of the Sky Park shopping center are now investors of the Inzhur REIT fund, which builds and buys top commercial real estate. In addition to Sky Park, Inzhur REIT’s portfolio includes 15 properties, including buildings leased by McDonald’s, Silpo, Fora, Comfy and MasterZoo. Four properties for McDonald’s and Fora, as well as a retail park with Novus as an anchor tenant, are under construction. Currently, Sky Park is the largest and most expensive property of Inzhur REIT. The total value of all its assets is UAH 3.476 billion.
Inzhur REIT professionally manages its assets to ensure that the real estate operates efficiently and generates stable income. Investors of the fund, who are co-owners of all the properties, receive monthly rental payments and earn from the fact that the value of the purchased real estate (capitalization) increases over time.
The minimum investment in Inzhur REIT is from UAH 10, which is the price of one certificate. The projected yield of the fund is from 9.5% per annum in US dollars in accordance with the exchange rate of the National Bank of Ukraine. The actual yield for the last year amounted to 14.05% in US dollars, and Inzhur REIT paid a total of 417.4 million dividends to investors.
A total of 37,933 investors have already joined Inzhur REIT, and this year the fund has quadrupled in size. The average check of an investor in Inzhur REIT is UAH 28.5 thousand.
Inzhur offers investments in several areas: mutual funds with large commercial real estate, modern energy facilities, and government securities. Today, Inzhur unites more than 43.7 thousand investors and manages assets worth UAH 4.54 billion. Since February 2022, the income of Ukrainians who have invested in Inzhur funds has reached UAH 966.3 million.
1 million investors in three years
Inzhur has set a goal to teach 1 million Ukrainians how to invest over the next three years. The goal is to make investing in assets such as the Sky Park shopping center not a privilege for a few, but accessible to all Ukrainians.
“There is a stereotype that Ukrainians are afraid to invest,” explains Inzhur CEO Andriy Zhurzhiy, “But when we launched Inzhur REIT with an entry threshold of UAH 10 and 20 thousand investors joined the fund in two months, we were convinced that people are looking for ways to secure their future. They are ready to try their hand at investing, but they need clear financial products. This is what we are working on at Inzhur.”
An affordable minimum investment, a clear and transparent investment process is only the first element of the investment ecosystem that Inzhur is building. The second is high-quality assets that can be invested in today and generate passive income. That is why Inzhur is considering the acquisition of new large profitable properties that generate rental income and will immediately bring substantial dividends to investors.
For reference
Inzhur is the first Ukrainian REIT (Real Estate Investment Trust) that allows Ukrainians to unite to invest in large real estate. The co-owners receive income from rental payments and capitalization growth of the properties.
Inzhur REIT is a unit investment trust that aims to invest in top commercial real estate, both in the acquisition of existing properties and in the construction of new ones. The fund’s yield is 9.5% per annum in US dollars, dividends are paid monthly, and the minimum investment is from UAH 10.
