A Ukrainian castle and a well-known health resort may attract private investors
The State Property Fund of Ukraine is considering the possibility of granting concessions for the Schönborn Palace in Zakarpattia and the “Kuyalnik” health resort in the Odesa region.
The State Property Fund of Ukraine is preparing pilot public-private partnership projects designed to help restore and develop these unique historical and health resort facilities.
“We manage several assets that we cannot sell due to legal restrictions because they have historical and cultural value. The most obvious examples are the Schönborn Palace in Zakarpattia and the “Kuyalnik” sanatorium in the Odesa region,” Dmytro Natalukha told RBC-Ukraine.
He clarified that last month, the State Property Fund of Ukraine (SPFU) established a new department from scratch for this purpose. Prior to this, the agency had not been involved in public-private partnerships (PPPs) at all.
The idea is to attract private capital and private expertise without transferring ownership to private hands. The state remains the owner, while a private investor or business manages the asset.
Dmytro Natalukha cited examples of countries where this practice has long been in place. Austria, the Czech Republic, Spain, and France have experience in renovating similar properties and opening hotels, restaurants, or museums on their premises. In Ukraine, he said, such experience is either nonexistent or minimal.
Schenborn Palace: The search for a concessionaire is already underway
As for the Schönborn Palace, it is one of the foundation’s two pilot projects in the public-private partnership (PPP) sector.
The fund has already announced a competition for the management of the palace on several platforms and forums. According to Natalukha, there are currently at least two parties interested in taking the property under concession.
The head of the State Property Fund noted that if this pilot project is successfully implemented, the fund will be able to engage with other ministries that have similar historical and cultural heritage sites on their balance sheets.
In particular, he said, the Ministry of Defense has three or four estates and castles that could potentially follow the same path.
The “Kuyalnik” Sanatorium: A Situation Requiring Immediate Decisions
“Kuyalnik” is the foundation’s second pilot project in the public-private partnership (PPP) sector.
According to Natalukha, the sanatorium is in such a deplorable state that it makes one want to “hug it and cry.”
In his opinion, a dedicated team is needed to focus exclusively on this facility and determine its future: whether it will become a spa resort or something else.
The head of the State Property Fund acknowledged that there are only a few dozen companies worldwide that understand how to structure such restoration processes. And there are no specialists with such experience among the fund’s staff.
That is why, he said, it is necessary to bring in a private partner with the relevant expertise.
Dmytro Natalukha, head of the State Property Fund of Ukraine, stated this in an interview with RBC-Ukraine.
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