In two years, Krippa spent more than $100 million on real estate in Ukraine
[:en]Ukrainian Entrepreneur Maksym Krippa[:]
Famous businessman Maksym Krippa has invested more than $100 million in Ukrainian real estate. There are certain reasons for this. As it turned out, the Parus business center was sold before the full-scale invasion began. During the war, the investor received better commercial terms of the deal.
His major acquisitions include the Parus skyscraper in Kyiv and the Ukraina Hotel on Maidan Nezalezhnosti. Krippa said this in a new interview with Forbes.
Krippa spends millions on real estate in Ukraine
According to the businessman, Parus’ occupancy rate is 90%, while the average occupancy rate of business centers in the capital is 70-75%. According to Krippa, Parus is profitable, although there are risks.
“But I believe in Ukraine, and I expect that the war will end, and then this asset will return to pre-war levels,” the investor said.
According to Krippa, Parus was bought with debts. At the time, there was a loan of UAH 600 million, which was later transferred to the businessman.
“The loan was not part of the deal, we are servicing it. No one is saying that the deal was structured over time. I didn’t pay the full amount at once,” said Krippa.
According to the businessman, he is interested in iconic and unique places that cannot be replaced. The investor also takes into account the location. He believes that construction will be more expensive and will take a long time.
In Parus BC, Krippa got a price per square meter that suited him. The entrepreneur saw that the business center had a yield that would help service payments.
