Law enforcement officials conducted searches in connection with the sale of Ocean Plaza

The Main Investigative Directorate of the National Police is investigating a criminal case involving abuse of power or official position that resulted in serious consequences. The investigation concerns possible abuses during preparations for the privatization of the Ocean Plaza shopping and entertainment center in Kyiv—a major asset that had previously been confiscated as state revenue. 

According to the investigation, certain officials of the State Property Fund of Ukraine may have acted in the interests of representatives of private commercial entities. This involves the alleged artificial creation of conditions to sell a large shopping and entertainment center to a predetermined buyer at a significantly undervalued price. Law enforcement officials are thoroughly examining evidence of possible unlawful influence on the process of assessing the shopping center’s value, the setting of the starting price for the upcoming auction, the determination of investment conditions for the sale, and the artificial restriction of the pool of potential bidders, which could have caused colossal losses to Ukraine’s state budget.

As part of this criminal proceeding, law enforcement officials conducted authorized searches at the residences of certain executives and relevant employees of the State Property Fund of Ukraine. During these urgent investigative actions, operatives seized important documentation, digital media, and other materials that are directly relevant to establishing all the circumstances of the offense and securing the evidence base.

This was reported by the Office of the Prosecutor General.

The government had planned to raise approximately $100 million from the privatization of the Ocean Plaza shopping and entertainment center.

It was previously reported that the State Property Fund of Ukraine plans to put the Kyiv-based Ocean Plaza shopping and entertainment center up for sale in the third quarter of 2026.

Previously, the Cabinet of Ministers approved a decision to sell the Ocean Plaza shopping and entertainment center in Kyiv. The property is planned to be sold through an open auction organized by the State Property Fund of Ukraine. The sale is expected to take place in accordance with the procedures established by law, with full compliance with all privatization procedures.