State-owned Oschadbank and Ukreximbank have put the Gulliver shopping, entertainment and business centre in Kyiv up for open sale. According to Oschadbank's press service, the starting price of the lot is $207 million. RBC-Ukraine reports this. Thus, one of the capital's largest retail properties is entering the market, having remained at the centre of disputes over credit obligations and collateral for nearly two decades.
Mechanics of open auctions
Oschadbank emphasised that the sale of the complex will be conducted through open competitive bidding. According to bank representatives, this format is intended to ensure transparent pricing and equal access for all potential participants. Oschadbank Chairman Yuri Katsion noted that a transparent auction will help establish the true market value of the property and attract both domestic and foreign investors to the bidding.
The history of the collateral: from "TRI O" to the state
The Gulliver complex was pledged as collateral for loans that Oschadbank and Ukreximbank extended to the company "TRI O" back in 2006. Due to the failure to meet credit obligations, the shopping and entertainment centre transferred to the ownership of the state banks in late July 2025. From that moment, the property effectively became an asset managed by the state, and its sale turned into a tool for returning funds to the public sector.
Where the proceeds will go
Oschadbank clarified that the proceeds from the sale will be directed to the state budget in the form of taxes and dividends. This means that the auction result will directly affect the funding of the state budget, and the final price of the lot will serve as an indicator of how the market values Kyiv's largest shopping mall under current conditions.
Contradictory data
Different publications cite the starting price of the lot in different currencies: RBC-Ukraine, the Ministry of Finance and Ukrainskyi Novyny state $207 million, whereas the headline of a 24 Kanaly article mentions a sum of 9 billion hryvnias. In essence, this is not a contradiction but a difference in how the same price is expressed: at the current exchange rate, $207 million corresponds to roughly 8.5–9 billion hryvnias. Nevertheless, it is important for readers to understand that the official starting price, as recorded in the auction documents, is stated in dollars, while the hryvnia figure is its approximate equivalent.
Context: disruptions to the complex's operations
Previously, RBC-Ukraine reported that Gulliver had temporarily suspended operations due to systemic obstacles from the previous owners, who blocked access to critical infrastructure and technical premises. This episode underscores that the transfer of the property to state ownership was accompanied not only by legal but also by practical difficulties that the new owner will need to take into account when returning the complex to normal operation after the auction concludes.
