Construction financing in the time of crises addressed by Vasil Kisil & Partners’ expert during 3rd Ukrainian Real Estate Summit
27/11/2008
24-26 November 2008 Adam Smith Conferences’ 3rd Ukrainian Real Estate Summit took place in Premier Palace Hotel, Kyiv. This largest and most prestigious real estate event in the country gathered 450+ of the most dynamic and compelling top-level industry players and consultants from 18+ countries around the world, including Vasil Kisil & Partners’ Managing Partner Oleg Makarov, Head of Real Estate Practice Oleksandr Khomenko and Senior Associates Alexander Borodkin and Nataly Dotsenko-Belous.
Session 1 addressed legislative reforms and government initiatives that are shaping the real estate and construction market in Ukraine. This year’s spotlight presentation was entitled “Kyiv of the 21st century – welcome to the future” and focused on the construction plan for Kyiv and how it is changing the face of the city. Issues raised here included the latest changes in acquiring approvals and permits and how they are going to affect investors, developers, and the general public.
In the afternoon of Day 1, industry leaders discussed the ways to manage through the turbulent time and drive the business forward. Next sessions covered optimal development strategies for the Ukrainian regions and showcased the EURO-2012 host cities.
Day 2 started with a global and regional investors panel that addressed rewards and challenges of investing in real estate and construction in Ukraine. Hot topic of construction financing against a backdrop of global economic turmoil was covered by Vasil Kisil & Partners’ Nataly Dotsenko-Belous - a recognized expert on the subject. According to her during the last five years, the Ukrainian construction market came up with 12 ways of attracting funds, tax optimization being the main purpose of all of them.
After an in-depth analysis of the exiting financing instruments’ pros and cons Ms. Dotsenko-Belous closed her presentation with an optimistic remark: “Ukrainian financing instruments are so flexible and handy that they allow to turn crisis into a protective barrier for the developer (to shield from taxation, the state and the investors)… provided, of course, that they are used skillfully and lawfully.”
Session 1 addressed legislative reforms and government initiatives that are shaping the real estate and construction market in Ukraine. This year’s spotlight presentation was entitled “Kyiv of the 21st century – welcome to the future” and focused on the construction plan for Kyiv and how it is changing the face of the city. Issues raised here included the latest changes in acquiring approvals and permits and how they are going to affect investors, developers, and the general public.
In the afternoon of Day 1, industry leaders discussed the ways to manage through the turbulent time and drive the business forward. Next sessions covered optimal development strategies for the Ukrainian regions and showcased the EURO-2012 host cities.
Day 2 started with a global and regional investors panel that addressed rewards and challenges of investing in real estate and construction in Ukraine. Hot topic of construction financing against a backdrop of global economic turmoil was covered by Vasil Kisil & Partners’ Nataly Dotsenko-Belous - a recognized expert on the subject. According to her during the last five years, the Ukrainian construction market came up with 12 ways of attracting funds, tax optimization being the main purpose of all of them.
After an in-depth analysis of the exiting financing instruments’ pros and cons Ms. Dotsenko-Belous closed her presentation with an optimistic remark: “Ukrainian financing instruments are so flexible and handy that they allow to turn crisis into a protective barrier for the developer (to shield from taxation, the state and the investors)… provided, of course, that they are used skillfully and lawfully.”