Oschadbank, Ukreximbank to Sell Gulliver Mall for $207 Million Starting Price

State-owned Oschadbank and Ukreximbank will put Kyiv’s Gulliver shopping and business complex up for sale in early September, with a starting price of $207 million, the banks wrote in a joint statement. The supervisory boards of both lenders approved the sale in late July. The lot will be sold through the Prozorro.Sales system, which the banks wrote ensures open access for potential buyers, competitive price formation, and transparency at every stage of the deal. JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official. The statement was published on Oschadbank’s website on July 31. The sale caps a nearly two-decade banking saga. A consortium of state banks began financing construction of the Gulliver complex in 2006, which opened in 2014. Three O LLC, the borrower, began reducing loan payments in June 2024 before halting debt servicing entirely. The two banks launched foreclosure proceedings on the mortgaged property in March 2025 after what they described as a full breakdown in cooperation with the borrower. Ownership of the complex passed to the bank consortium on July 26, 2025, once legal procedures were completed: Oschadbank received an 80% stake and Ukreximbank the remaining 20%. “The sale of Gulliver will send an important signal to Ukrainian and international investors that legal mechanisms for protecting creditors’ rights are working in Ukraine, and that large investment assets can return to the open market and be sold transparently and on competitive terms,” the press release said, quoting Yurii Katsion, chairman of Oschadbank’s management board. Other Topics of Interest Wildberries Bans Smartphones at Warehouses After Drone Attacks Russia's largest online retailer Wildberries has banned smartphones at its warehouses after employees reportedly filmed drone attacks and air raid alerts. Gulliver is one of the capital’s best-known commercial properties, spanning more than 157,000 square meters (1.7 million square feet) and combining a shopping and entertainment center with office space. Located in central Kyiv near three metro stations, the complex sees a daily foot traffic of more than 150,000 people, according to the banks. Since taking ownership, the banks wrote that they have kept the complex operating, secured professional management of the asset, and prepared it for open sale. Details on auction dates, participation terms, and the bidding procedure will be published alongside the start of trading. The complex was previously owned by Viktor Polishchuk, a Kyiv businessman placed under National Security and Defense Council sanctions in April 2025. Olena Hrazhdan is the Business Reporter at Kyiv Post, covering Ukraine’s markets, business, and economic policy. While she reports broadly on economic issues, her core focus is banking, finance, monetary and fiscal policy. Olena previously wrote for leading Ukrainian business media and became a Fellow of the International Monetary Fund’s Journalism Fellowship in 2024.