Dragon Capital Acquires Office Building in Kyiv

Dragon Capital has completed the acquisition of a 1,795 m2 office building in Kyiv from Alfa-Bank.

The property, a three-story office building, is located at 22/1 A Sahaidachnoho Str., in a historical pedestrian area of Kyiv’s Podil district. Following the acquisition, the entire property will be leased back to Alfa-Bank.

Dragon Capital CEO Tomas Fiala said, “We are concluding 2019 with a more modest pace of property acquisitions than in 2016-2018, which is partially due to elections earlier this year and our sizable investments in late 2018. Still, we have expanded our portfolio by 13% or more than 77,000 m2 and look forward to making new investments into the sector together with our partners in 2020, reinforcing our bet that Ukraine’s investment climate and economic growth will continue to improve.”

In total in 2019, Dragon Capital expanded its commercial real estate portfolio by 8 properties acquiring two warehouses in Kharkiv and Kyiv with combined space of 34,600 m2, a 945 m2 high-street retail unit in Lviv, as well as three office buildings with a total area of 12,900 m2 and two shopping centers with 29,500 m2 of space (all in Kyiv). This brought Dragon Capital’s commercial real estate portfolio to over 655,000 m2, comprising 11 office buildings, 6 retail properties and 10 warehouses across Kyiv, Lviv, Zaporizhya, Vinnytsia and Kharkiv regions.