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in profitability due to the pandemic, although it was previously considered the most promising. At the same time, the head of Dragon Capital believes that over time the demand for offices will recover.
Turkish-based Bosphorus Development has entered the Ukrainian market. The company will begin constructing its first project in Kyiv at the beginning of 2022. A multifunctional residential complex in the center of Kyiv with retail and social facilities, announced the founder and head of the company's supervisory board, Mehmet V. Sacaklioglu. The company already has a significant land bank, including four land plots, and we are negotiating the acquisition of three more, reported Interfax.
One of the largest construction companies plans to triple its investments. In 2022, the Kovalska Industrial and Construction Group plans to invest UAH 2.4 bln ($88mn) in developing industrial assets. Kovalska is investing UAH 1.2 bln ($ 44mn) in production in the Lviv region next year. The project includes the construction of a dry mix plant and aerated concrete plant. As epravda reported, the other areas of the overall investment program include purchasing and replacing vehicles and production equipment, increasing the production capacity of current assets, and investing in sustainable development and infrastructure.
9.2.5 Retail corporate news
JYSK intends to develop its B2B segment in Ukraine. The retail chain which sells furniture and household goods plans to develop its B2B market. “The success of the b2b direction of the company in European countries also gives hope for the Ukrainian market”, said JYSK CEO, Evgeniy Ivanitsa. As a result, the company will soon announce the opening of a B2B Sales Manager position.
Auchan will open 16 new stores which are different from their traditional hypermarket format. The French retailer recently opened its 12th store which had a collection point for online purchases in the Comfort Town residential complex (Interfax). The pick-up point format combines a traditional home shop with an online ordering point. If a customer wants to enter the stand-alone store, he will need to have the application "Auchan," which will allow receiving a QR code, which is the key to the store. Then the customer makes his purchases and pays at the self-service checkout.
Confectionery companies belonging to the family of former President Petro Poroshenko have been fined UAH283.6mn ($10.4mn) by the Anti-Monopoly Committee (AMCU) for alleged anti-competitive behaviour. In a December 21 statement, the committee said that the companies, Interstarch Ukraine, Dniprovsky Starch and Syrup Integrated Plant, and Intercorn, tampered with the prices of corn and glucose syrups on the market. The enterprisers were accused of unjustified price hikes on syrups in April-June 2018, February-March 2019 and October 2020. The companies
also set different prices for different buyers without a good reason, the committee stated. In response, the companies said that the regulator’s conclusions are “unreasonable and unfounded.” They consider this move to be “political prosecution” of Poroshenko. According to the Anti-Monopoly Committee, the companies together dominate the syrup market, controlling 65.5% of it in 2018, a whopping 93.9% in 2019 and 79.8% in 2020. They’re
73 UKRAINE Country Report January 2022 www.intellinews.com