The City of Kyiv will soon sign an agreement with a group of investors to address unfinished construction projects by the major Ukrainian building firms Ukrbud and Kyivmiskbud, the Kyiv City Council said in a press release on Thursday.
"We must determine the financing mechanism by the end of the year so that work can begin next year," Kyiv Mayor Vitali Klitschko stated, adding that properties with the highest degree of readiness will have priority once funding is secured.
The City Council recalled that Ukraine's government had committed to finance the completion of Ukrbud projects when Kyivmiskbud agreed to take them over, but no funds have so far been allocated.
State-owned Ukrbud went bankrupt in 2019, leaving many of its projects incomplete. Kyivmiskbud, controlled by the City of Kyiv, stepped in to manage some of these unfinished assets. Kyivmiskbud, however, also stopped work in late 2022, with tens of thousands of investors now waiting for their housing.
