City Capital Group acquires Leonardo Business Center and Ukraina Department Store in the center of Kyiv
The City Capital Group (CCG) group of companies, owned by businessman Ofer Kerzner, is purchasing two commercial real estate properties in the center of Kyiv – the first phase of the Leonardo business center and the Ukraina Department Store shopping and entertainment center. Forbes Ukraine reports this.
In 2007, he merged his assets into City Capital Group. The company owns six commercial real estate properties in Kyiv, including the Platforma Korolenkivska and Platforma Office Club business centers, the Darynok market mall, and the Platforma Art Factory cultural and retail space.
The seller of the assets is the Irish banking corporation IBRC. The amount of the deal, according to Forbes analysts, is approximately $70 to $100 million. Separate investments are planned in the modernization of the facilities.
The Leonardo business center consists of two phases with a total area of 60,000 square meters. The first phase, which CCG is acquiring, was opened in 2005 in a former hotel building.
Its area is 23,155 square meters. The reconstruction of the facility was carried out by the company "Yaroslaviv Val" of a Ukrainian entrepreneur of Greek origin Leonid Yurushev.
The publication's sources estimate the cost of a square meter in the first phase of the Leonardo Business Center at up to $2,000.
The shopping center "Ukraine Department Store" was opened over 50 years ago and reconstructed in 2004. The area of the facility is 45,330 square meters.
In 2024, the shopping center's revenue increased by almost 13% – to UAH 113 million, and in the first quarter of 2025 – by another 25% (to UAH 33 million).
- In August 2024, Kyiv was allowed to build a 10-story hotel with underground parking on Khreshchatyk. The future Stolichny hotel will be built by Nikonov and Kerzner.
