The State Property Fund of Ukraine has conducted 500+ auctions following the resumption of privatization

The State Property Fund of Ukraine conducted the first 500 successful privatization auctions in the ProZorro.Sale system after the resumption of privatization in September 2022.

As of November 23, the SPFU organized 508 successful trades (including trades awaiting payment, contract signing, etc.). The total winning price of the assets amounted to UAH 3.96 billion, approximately 2.7 times higher than the initial value.

The significant increase in value is a result of high competition. A total of 1,635 potential investors competed for the opportunity to start or expand their businesses. On average, 4.5 proposals were submitted for each auction.

Among the most expensive lots were the "Hermitage" hotel in Kyiv (UAH 311 million), "VolynTorf" (UAH 212 million), "RivneTorf" (UAH 205 million), the "Ust-Dunaysk" seaport (UAH 201 million), etc.

"Privatization opens the path to effective resource management, contributing to the increased competitiveness of the economy. This process stimulates investments, providing additional financial resources for the development of the state and regions. In addition, privatization contributes to improving the quality of life for citizens, expanding opportunities for new jobs, and fostering innovative development," noted Vitaliy Koval, the Chairman of the State Property Fund.