The development company Budhouse Group has signed a long-term loan agreement with the Polish state development bank BGK (Bank Gospodarstwa Krajowego). A loan will be allocated for the construction of the Nikolsky shopping center in Kharkiv. The total amount of the contract is 53.6 million euros. The political and commercial risk of the transaction is provided by KUKE insurance policy.
The lack of a Ukrainian bank in this transaction proves that the Budhouse Group was recognized as a reliable developer with whom it is possible to implement expensive projects.
The level of the Nikolsky shopping center was highly appreciated by Polish specialists, that significantly accelerated the negotiation process, - says Maxim Gavryushin, COO of Budhouse Group. - Negotiations to raise funds were begun in late summer 2019, and by the end of December a loan agreement was signed. This is an unprecedented timeline for such transactions. Implementation was facilitated by: a high level of construction of the project, the best central location in the city, participation in the project of a leading network operators, a professional project concept which is unique in its kind for the Ukrainian market.
Construction work at the facility had been unfrozen before the signing of the contract in the summer of 2019. During the second half of 2019, facade work was partially done and the construction of an underground passage that connects the shopping center with the metro transfer station was completed. More than 80% of the shopping center space has already been leased out or is being signed. The completion of the Nikolsky shopping center is planned at the end of this year.
Large-scale Polish general contractor Unibep S.A. is engaged in turnkey construction. This company has vast experience in implementing large projects in different countries, which requires timely commissioning and high quality construction. ” - said Dmitry Chumakov, CEO of Budhouse Group.
«Nikolsky» shopping mall is located in the center of Kharkiv, on the street. Pushkinskaya, 2. The total area of the complex is 106 thousand square meters, trading - 53 thousand square meters. The mall set the National Record of Ukraine - "The biggest dome construction on the building". The main architect of the complex is architectural studio "A.V. Pashenko". The concept and interior design were developed in conjunction with the international company Sonae Sierra. Project developer - Budhouse Group.
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