Stolitsa Group Aims to Complete Construction of Arkada Bank Residential Complexes


The construction company Stolitsa Group intends to complete the construction of the Evrika, Patriotika and Patriotika on the Lakes residential complexes of the Construction Financing Fund managed by the Arkada Bank, Evrika Aktiv, an investor protection community, said.

On December 18, a working meeting was held between representatives of all the initiative groups of the complexes that the Arkada bank was supposed to build with the likely developer - the Stolitsa Group company to resolve the situation at the Evrika, Patriotika, Patriotika on the Lakes complexes, on which Vlada Molchanova stated: The company "Capital Group" intends to enter the completion of residential complexes.

The meeting was also attended by representatives of the Kyiv City State Administration Vyacheslav Nepop and Larisa Zhilyk, as well as the secretary of the Verkhovna Rada Committee on the organization of state power, local self-government, regional development and urban planning Dmitry Isaenko.

During the meeting, Vlada Molchanova proposed to sign memorandums with the Kyiv City State Administration, the state and representatives of investors.

“After that, we will be able to start the workflow for the transfer of objects of our company and the assumption of obligations to you for development. We will agree on implementation schedules separately,” Molchanova said, adding that she expects to complete the transfer process by the new year.

The construction company Stolitsa Group is part of the investment group BT Invest (Lithuania), established in 2008 by the former shareholders of Sandora Raimondas Tumenas and Igor Bezzub. The company, in particular, developed the project for the construction of the Retroville shopping center.

The portfolio of completed projects of the company also includes residential complexes "Kvartet", "Galaktyka", "Varshavsky", Seven, "Lypynka", "Pivdenni Bramy", Golden Park, "Panorama" and others. The construction of the residential complex "Varshavsky 2" is underway.

Stolitsa Group LLC was founded in 2008. The founders of the company with an authorized capital of UAH 20 million are Cypriot the Elakol Developments Limited (78%), AMC Business Garant LLC in the interests of the Galeon fund (11%) and Crown (11%) are listed in the Unified State Register. The ultimate beneficiaries are Marina Poznyakova, Raimondas Tumenas, Rugzi and Ivan Molchanov.

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