Ukrainian authorities want to sell the Ocean Plaza shopping mall for $100 million
The State Property Fund of Ukraine is considering selling not only the state’s stake but the entire Ocean Plaza shopping and entertainment center in Kyiv. The potential starting price for 100% of the complex is estimated at approximately $100 million.
The SPFU explains that investors are more interested in acquiring the entire property rather than just the portion owned by the state.
The State Property Fund of Ukraine is seeking a legal mechanism that would allow it to put 100% of Ocean Plaza’s shares up for privatization auction, rather than just the state’s 66% stake. According to him, work is currently underway to structure the lot in a way that will be attractive to potential buyers. “Investors are interested specifically in the entire property, not just the state’s stake,” Natalukha explained.
According to preliminary estimates, the starting price for the entire shopping center could be around $100 million. Previously, selling the entire complex was difficult due to legal restrictions. However, the Cabinet of Ministers approved amendments to the rules for the sale of sanctioned property, which allowed the process to move forward. The future pool may include shares in LLC “Investment Union ‘Lybid’”—which owns the shopping center—as well as a claim on a loan and a land plot.
Why the Sale Became an Issue
The main difficulty lies in the fact that the state currently controls only 66% of Ocean Plaza. The remaining 34% belongs to a private owner. According to media reports, the private stake is linked to “Lanita Invest” LLC and entities controlled by businessman Andriy Ivanov, who controls UDP. The State Property Fund of Ukraine (SPFU) states that it is currently engaged in constructive dialogue with the minority owner and does not rule out the owner’s participation in the upcoming auction.
When Ocean Plaza Might Be Sold
Due to legal issues, the SPFU estimates that it is unlikely the auction will take place before December 2026. If the sale proceeds as planned, the proceeds could be transferred to the state budget as early as January 2027.
What is known about the investigations into the Ocean Plaza case
Dmytro Natalukha also commented on the searches conducted at the State Property Fund by the Office of the Prosecutor General in connection with the Ocean Plaza case. According to him, following the inspections, the parties entered into dialogue. No charges were filed against State Property Fund employees.
“We provided law enforcement with all the necessary information regarding the asset’s pricing, valuation, and the procedure for selecting the auction winner,” noted the head of the State Property Fund. The Fund emphasizes that the goal of the upcoming sale is to hold a transparent auction and generate revenue for the budget from the privatization of a major asset. This was stated by State Property Fund Chairman Dmytro Natalukha.
The head of the State Property Fund stated that the actions of law enforcement agencies and the accusations by the prosecutor’s office could derail the sale of the Ocean Plaza shopping and entertainment center in Kyiv. The SPFU insists that the privatization procedure is being carried out in accordance with the law and based on an independent appraisal.
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 all privatization procedures followed.
