Ukrbud, the state-owned construction company, was sold for ₴805M as part of a large-scale privatization.

The auction winner was the Petro Oil and Chemicals company, owned by Georgian citizen David Bezhuashvili. He offered a price 200% higher than the starting price of ₴262.6M (excluding VAT).

The Cabinet of Ministers included Ukrbud in the list of large-scale privatization objects in September 2024, and in March 2025, approved the starting price and terms of sale. Over the past 21 years, the company has built a dozen factories and four residential buildings in Kyiv, and it participated in constructing the sarcophagus over the fourth unit of the Chornobyl NPP. Last year, Ukrbud’s revenue nearly halved to ₴67M compared to the previous year, and the loss increased fourfold to ₴13.5M. The company did not construct anything in 2024.

The privatization object comprises:

1. 147 real estate units across the country
2. 10 subsidiaries
3. Assets with a book value of over ₴255M
4. 17 land plots (totaling over 16 hectares)
5. Over 250 lease agreements with counterparties