#9 September 2020

In focus – Real Estate and Land

In the absence of an equity market, real estate has always been the most attractive investment for Ukrainians. It has demonstrated higher rates of investment return compared to that in other European States. The commercial property market has been dominated predominantly by local investors, while residential premises are increasingly popular among non-residents.

Expert Opinion

Deregulation in the Construction Industry

by Leonid Gilevich, Dmytro Hrybov

Attracting long-term foreign investments and facilitating the doing of business (including for foreign investors) have been priority tasks for the state throughout the whole period of independence of Ukraine. In the meantime, the approach to key issues of business deregulation have varied significantly at different times and the governments decisions didnt always meet the then-current needs and the actual demands of business.

In Re

Property Redevelopment: Legal Framework, Trends and Challenges

by Oleg Boichuk, Andrii Kokhan

Redevelopment has become an important part of the real estate business in Ukraine in recent years. We can see more and more projects of this kind, mainly in Kyiv and other major cities. Industrial-to-commercial and industrial-to-mixed use are the most typical examples of redevelopment projects in commercial real estate sector.Projects involving redevelopment of residential houses into apartment blocks are also taking place.

New Unified State Electronic System in the Construction Field: What to Expect

by Georgy Fizer

On 17 October 2019, the Ukrainian Parliament adopted Law No. 199-IX aimed at ameliorating the process of rendering administrative services in the field of construction. The Law provides for, among other things, the creation of the Unified State Electronic System (USES) in the field of construction as an integral part of the urban planning cadaster...



CMS assisted KEXIM

Sayenko Kharenko advised on USD2 billion Eurobond issue and related switch tender offer by Ukraine

Asters advised EBRD and IFC on USD 70 million financing to Galnaftogaz

AVELLUM advised Argus Media Ltd

CMS advised EBRD on renewable energy investment in Ukraine


Courts cancelled tax fine of Naftogaz for 2.4 billion

EU Court of Justice overturned European Commissions EUR 13 billion of Apple fining

State-owned Oschadbank won suit against Russias Sberbank over SBERBANK trademark


Special taxation regime for IT industry

Parliament supported draft law on localization in the first reading

Parliament supported draft law on mediation

Parliament adopts draft on investor support in first reading

Law digest

Law on reducing green tariffs now in force

Law on legalization of gambling business came into force

Law on patent law reform came into force

The law on attracting investment came into effect


Social Policy

EBA opposes raising minimum wage


Kyivs Dnipro Hotel sold at auction for UAH 1.1 billion

International MonitoringEurozone economy now in recession

Ukraine topped rating of transparency of public procurement again

Green energy overtakes classic energy in EU for first time

Banking & Finance

The EBRD to provide EUR 25 million in credit to Ukrainian State Air Traffic Services Enterprise to maintain liquidity

Airbnb aims to list shares on stock exchange

Cover Story

Lucrative Investment

The real estate and construction market has undergone changes worldwide. COVID-19 has not only changed our everyday lives but also led to mass reconsideration of investment strategies and lease market. However, foreigners have found Ukrainian real estate to be quite a lucrative investment.

Odesa Region has its own unique specifics, and enjoys steady investment from abroad, especially into residential premises. We asked Gryhorii Tripulskyi, managing partner of De-Jure Law Firm, to tell us how the real estate market operates in the current Ukrainian realities, and what happens in Odesa and south Ukraine.

Hot Issue

Securing Land Rights in Renewable Energy Projects: Due Diligence Roadmap

by Sergii Zheka, Olena Kravtsova

It is a common fact that renewable energy (RES) projects have for some time been a smash hit among investors into Ukraine, to the extent that, for example, the capacity of commissioned solar power plants (SPP) has increased manifold over the last 2-3 years.


How has the Business Ombudsman Council Helped Real Estate and Construction Companies?

by Iryna Stanislavska

The construction and real estate sector is consistently among the TOP-5 industries, which most often turn to the Business Ombudsman Council (BOC) for support. During the five years of its operation, the BOC has received 654 complaints of malpractice by state bodies from real estate and construction companies and closed 426 cases. Of these, more than half (59%) were closed successfully in favor of businesses...

Business Lunch

Investments Control

There is an emerging conversation around foreign investments in strategically important companies is it a path towards modernization and development or a threat to national security?


Legal Digest

A new portion of legislative novelties was submitted by the Ukrainian Parliament and Cabinet of Ministers last month, which leave many questions for consideration. This month we asked for comments on Draft Law No. 3760 On Government Support of Investment Projects with Sizable Investments; new regulations related to financial monitoring; Draft Law No. 3955 On Amendments to Certain Legislative Acts of Ukraine Regarding the Management of State Unitary Enterprises and Business Entities in which the state has a 50% or more shareholding.

Another recent highlight wasLaw No.768-IX, which regulates gambling as well as Law No. 816-IX that reforms legislation on Intellectual Property. The UJBL editorial team asked the views of experts on these and other recent legal topics.

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