The State Property Fund wants to put the “Ocean Plaza” shopping center up for auction

The state property fund will auction the capitalʼs shopping and entertainment center "Ocean Plaza", which the court confiscated from the Russian oligarch Arkadii Rotenberg the day before.

The head of the Foundation Rustam Umyerov told about this in an interview with Forbes.

"We are interested in putting it up for auction as soon as possible. First, a legal, technical and financial audit must be conducted," Umyerov explained. The audit is given 90 days, the fund estimated the value of the mall at at least $160 million.

The state owns a 66.65% share of "Ocean Plaza", the other share of the asset belongs to Ukrainian businessmen Vasyl Khmelnytskyi and Andriy Ivanov. "Our lawyers will hold consultations with Ukrainian asset owners and hear their proposals regarding this situation. I always give the task to lawyers to study all the risks associated with the asset and offer the optimal solution," Rustam Umyerov added.

• On March 20, 2023, the High Anti-Corruption Court (HACC) decided to allow confiscation of Russian oligarch Arkady Rotenberg and his partners in the company that owns a major share of the "Ocean Plaza" shopping and entertainment center in Kyiv. They have the right to appeal the decision in the Appeals Chamber of the HACC. If there is no appeal, the property will become the property of the state and will be transferred to the management of the State Property Fund.