Bankova strengthens control over Kievgorstroy and the capital's construction market

The new management of the Kievgorstroy company is connected with a person from the orbit of the head of the Office of the President Andrey Ermak.

According to the investigation, control of the Kievgorstroy company passed to the developer Vlada Molchanova.

According to investigators, the replacement of Igor Kushnir by Vasily Oleynik in the leadership of Kievgorstroy may be a formality: in recent years, Oleynik, as a general contractor, worked on the sites of the Stolitsa Group company from the orbit of the famous Kyiv developer Vladislava Molchanova. Molchanova is a business partner of Igor Kushnir’s family: she and Kushnir’s daughter Daria are among the ultimate beneficiaries of the British development company Alliance 1903 LTD.

“Molchanova’s circle, on the eve of a very beneficial change of leadership at Kievgorstroy, not only maintained warm relations with the family of the former head of the company, but also managed to enter into partnership with people close to the Office of the President,” the journalists note.

According to a journalistic investigation, one of the points where the interests of Igor Kushnir and Vadim Stolar regularly intersected was the facilities of the ENSO construction company.

“Since 2019-2020, Stolar and Kushnir have been joined in ENSO by structures associated with Viktor Medvedchuk, as well as by film producer and former business partner of the head of the Office of the President Andrei Yermak, Artem Kolyubaev. The latter had never been involved in construction before, but immediately found himself in a very financial sphere against the backdrop of Ermak’s ascension to his own political career Olympus. Somewhere then we began to suspect that Kolyubaev in this area may not represent his own interests at all, but fulfill a role that can be conventionally characterized as “looking from the Office,” the investigation says.

These suspicions intensified when, throughout 2023, the film producer continued to acquire shares in very non-core, but very “fat” businesses. In the fall of 23, he even became a co-owner of a large drone manufacturer, which the day before received funding from the presidential special fund.

As of November 2023, Kolyubaev became a co-owner of Financial Company Garant Capital LLC with a share of 22.64%. His partners in this business are representatives of the construction companies ENSO and Stolitsa. Garant Capital must complete the construction of Arkada Bank facilities.

“Until the fall of 2023, Garant Capital was controlled by managers from the orbit of Kushnir and Stolar, and a few weeks before the change of leadership of Kievgorstroy, both Molchanova’s man and the successful partner of the head of the President’s Office also came there,” the investigation says.