Oschadbank successfully auctioned off the Ramada Encore hotel along with the Europa commercial center for an unprecedented amount.
The auction occurred on August 19, and the winning bid presented the largest initial lease payment, totaling UAH 200 million, surpassing the initial price by a factor of 20.
Informator reports on this matter.
Oschadbank has finally secured a purchaser for the four-star Ramada Encore hotel and the Europa business center situated in Kyiv. The auction transpired on August 19, with the triumphant participant proposing the highest initial installment of UAH 200 million (20 times greater than the starting cost of UAH 10 million). Nevertheless, the identity of the acquirer remains undisclosed—their specifics are concealed on the SETAM platform.
The OpenMarket portal, operated by the state-owned enterprise SETAM of the Ministry of Justice of Ukraine, announced the prosperous online auction for the financial leasing of the Ramada Hotel and the Europa Business Center on Kyiv’s Stolychne Highway. According to the announcement, Oschadbank conducted an auction for the prerogative to enter into a financial lease arrangement for the property with the selected victor.
A sum of five contestants took part in the auction process, with three additional entities showing involvement but neglecting to provide a security deposit. The triumphant contender presented the premier initial contribution of UAH 201 million, a figure twenty-fold greater than the opening value of UAH 10 million (VAT excluded). The purchaser is now obliged to remit the advance payment to Oschadbank by September 3, 2025.
In accordance with the auction guidelines, the victor will be authorized to engage in a financial leasing agreement spanning 120 months (equating to 10 years) with Oschadbank. Following complete disbursement, the victor will gain title to the hotel and commercial hub, along with a two-story parking facility encompassing an area of 17,500 square meters. Commencing in the subsequent year of the understanding, the forthcoming possessor will be mandated to issue periodic reimbursements for the premises, fluctuating from UAH 1 million to UAH 13 million each month. The cumulative worth of the premises is UAH 797.7 million.
The four-star Ramada Encore hotel features 22 stories and spans 39,900 square meters. It accommodates 332 hotel accommodations, 58 apartments, a 20-room conference complex with a collective expanse exceeding 4,000 square meters, a two-tiered parking structure, fitness amenities, and dining establishments.
Throughout 2024, numerous endeavors were undertaken to dispose of these holdings. At that juncture, 11 additional land parcels in Kozyn were integrated into the portfolio, but the tendering was unsuccessful. A subsequent auction bid faltered in October of the same year: in spite of three participants, none remitted the UAH 50.9 million security deposit. The opening price escalated to UAH 1.02 billion, but the Atmosfera shopping center was also incorporated into the portfolio.
