Kyiv's Abandoned Sky Towers Return to Auction with a Starting Bid of 560 Million

Kyiv's Sky Towers Complex Heads Back to the Auction Block

According to Главком: The long-stalled Sky Towers public center in Kyiv is once again being offered for sale. Construction on this project began in 2007 but was halted in 2015. Over the past several years, the property has been listed for sale multiple times at progressively lower prices, with the next auction scheduled for April 8, 2026.

Complex Specifications

The property is situated in Kyiv's Shevchenkivskyi district, at the intersection of Sholudenka Street, Beresteiskyi Avenue, and Borshchahivska Street. The plot covers 0.74 hectares, and the construction is 51% complete. The current starting auction price is set at 560.4 million UAH, which is 101.8 million UAH lower than the previous starting price of 662.3 million UAH.

The Sky Towers complex consists of:

• A 47-story tower;
• A 34-story tower;
• An eight-level underground parking garage with 900 spaces.

The projected height of the 47-story tower is approximately 214 meters, and the total construction area is 219,000 square meters.

The construction was initiated by KDD Group (Kyiv Donbas Development Group), which secured a credit line of roughly 3 billion UAH from Ukreximbank for financing. The formal borrower was the 'Agency for Office Construction.' Work was completely stopped in 2015, and in early 2021, Ukreximbank won a court case to recover the loan debt.

In October 2021, the bank put the loan claim rights up for sale with a starting price of 7.1 billion UAH. By May 2023, the asset was offered for nearly 5.6 billion UAH, and by September 2024, the price had dropped to 1.1 billion UAH. It was further reduced to 937.3 million UAH in October 2024, and then again to 662.33 million UAH in February 2026.

The Sky Towers complex includes the two high-rise towers (47 and 34 stories), a shared stylobate, and a separate two-story building. The designated space is intended for offices, retail areas, and conference halls.

The auction on April 8, 2026, is expected to attract potential investors, given the reduced starting price and the opportunity to complete a major unfinished development in the capital's center. This prominent site represents a significant, if challenging, investment opportunity in the heart of Kyiv.

The situation with Sky Towers illustrates the difficulties faced by major investment projects in Ukraine, particularly amid economic instability and legal complications.

The repeated price reductions at auction may indicate an effort to attract new investors to finish the construction, which could, in turn, positively impact the capital's real estate market. Successfully completing the project could serve as an example of renewed investment activity in Ukraine, which is important for the country's economic growth.