Winner of the auction for the privatization of the property of the non-working Lviv colony concluded a purchase and sale agreement in the amount of UAH 377.5 million

On June 30, 2021, the winner of the online auction for the privatization of the property of Lviv correctional colony No. 48, Development Engineering Service LLC, which is part of the SoftServe group, signed a sale and purchase agreement, which is the last stage before the financial settlement in the amount of UAH 377.5 million.

When signing the agreement, a representative of SoftServe, one of the largest IT companies in Ukraine, confirmed the previously announced plans to build a campus on the territory of the non-working colony containing a number of infrastructure facilities and offices.

According to Dmytro Sennychenko, Chairman of the State Property Fund, this example is real proof that privatization is essentially a transformation of unproductive assets into productive ones.

“Instead of the abandoned territory of the former colony, which was located right under the windows of residential buildings, the competent investor plans to implement a large-scale infrastructure project that will not only decorate Lviv, but also positively affect the local economy through the creation of new jobs and the revival of economic activity”, Dmytro Sennychenko noted.

The privatization of this asset became part of SoftServe’s plans to create an office campus with the involvement of a leading European architectural bureau.On the campus, they intend to unite some of the Lviv offices, as well as create facilities necessary for work, recreation, talent development and various events.According to a company representative, apart from a place of concentration of technological talents and a creative space for work, the SoftServe campus will also become a landmark futuristic object in Lviv.

“The signing of the agreement is another step in the process that brings us closer to obtaining ownership of the plot of the Lviv correctional colony No. 48. It is planned to build a large-scale creative campus on the territory, which will be a major transformation of both the territory and the whole city district. The signing of the document will allow us to move on towards the implementation of this large-scale and unique project for Lviv”, commented Taras Zubyk, Director of Development Engineering Service LLC.

As previously reported, the start of work on the project is scheduled for next year. According to preliminary estimates, its implementation will last 5-6 years.