The Antimonopoly Committee of Ukraine has officially granted permission to “Ola Fine,” a company owned by Maksym Krippa, to finalize the privatization of the “Ukraina” hotel in the heart of Kyiv. The US NewsBinding portal reported this information based on an announcement published by the AMCU on November 28.
Situated prominently on Independence Square, the “Ukraina” hotel represents the first significant privatization project completed during the ongoing full-scale war. Under the terms of the agreement, ownership of the hotel was transferred to its new proprietor following the AMCU’s approval for the concentration.
The deal saw “Ola Fine” acquire the hotel for 3.01 billion UAH, including VAT. However, the 1.51-hectare plot of land on which the hotel stands should have been included in the purchase agreement.
The Acquisition Journey of the ‘Ukraina’ Hotel: Key Steps and Details
On September 18, the “Prozorro.Sales” platform hosted an auction that drew significant public attention: the privatization of the “Ukraina” hotel, one of Kyiv’s most iconic landmarks. The winning bid came from “Ola Fine,” a company owned by entrepreneur Maksym Krippa, who also owns NAVI.
According to the State Property Fund of Ukraine, the hotel was sold for 2.5 billion UAH, marking a significant milestone in the country’s efforts to privatize state-owned assets. The bidding process was highly competitive, with three companies vying for the property, driving the final price to more than 2.5 billion UAH—an impressive 2.4 times higher than the starting bid of 1.04 billion UAH. The competitors were LLC “Zhytomyr Furniture Plant” and LLC “Alarit-Prom.”
The auctioned lot included 14 real estate objects, covering a total area of 26,300 square meters. This portfolio featured hotel rooms, office spaces, and parking facilities, making it a lucrative investment for those looking to expand their real estate assets in the capital. The combination of scale and diverse offerings significantly enhanced the appeal of this asset, ensuring intense competition during the bidding process.
Who Is the New Owner of the ‘Ukraine’ Hotel
Entrepreneur and investor Maksym Krippa
Maksym Krippa is a Ukrainian entrepreneur and investor recognized for his impactful esports, IT, and real estate projects. His portfolio includes ownership of the legendary esports team NAVI, the Maincast studio specializing in esports event broadcasting, and the renowned video game developer GSC Game World.
Until 2022, Krippa maintained a relatively low profile in the public eye. Notably, in 2022, it was revealed that Krippa had become the sole owner of NAVI, a process that began in 2018 and was finalized over several years.
Beyond his achievements in esports, Krippa has made substantial investments in the real estate sector. In 2023, he acquired the “Parus” business center, an iconic architectural landmark in Kyiv, and a luxury estate in Kozyn. Recently, his portfolio expanded to include another prestigious property—the “Ukraina” hotel, located in the heart of the capital, further cementing his reputation as a key player in Ukraine’s real estate market.
