The largest Ukrainian shopping mall, Ocean Plaza, will be privatized, and the proceeds will be directed to Ukraine’s restoration.

The Cabinet of Ministers has transferred the state’s share of the Ocean Plaza shopping and entertainment center to the State Property Fund (SPFU). In addition, the government has ordered its assets to be prepared for privatization. It is noted that the received funds will be directed to the Fund to compensate for the consequences of Russia’s armed aggression. The SPFU plans to conduct an inventory and audit of the Ocean Plaza shopping center.

In March of this year, the Higher Anti-Corruption Court approved confiscating these assets from sanctioned Russian oligarchs Arkady and Igor Rotenberg, including their 66.65% stake in the Kyiv shopping and entertainment center. At the beginning of April, the largest shopping mall in Kyiv became the state’s property.