First Ukrainian Development Bought by Petrochemical Gmbh

The Austrian Petrochemical Gmbh controlled by Yakov Goldovskiy and Dmitriy Buriak has acquired First Ukrainian Development, a major Ukrainian developer. The company’s portfolio is evaluated at USD 1.3 bln. The amount of the deal, however, has not been disclosed. First Ukrainian Development will be renamed to DeVision. Dmitriy Buriak noted that in the next three years the company will develop office, residential, shopping and hotel projects in Kyiv, Kharkiv, Dnipropetrovsk and Odessa.