At a meeting of the Antimonopoly Committee on May 21, a statement by Riel Development Group of Rostyslav Melnyk regarding acquisition of control over LLC "Estate Develop" is being considered. This company is already registered as the contractor for reconstruction at 27/29 Bohdan Havrylyshyn Street — and permit documents in the YEDESSB system were filed long before Riel decided to enter the project.
What is being built and where
A four-story industrial building of JSC "NTK 'Elektronprylad'" — an enterprise that for over 60 years has manufactured onboard aviation electronics, including for military aviation — is planned to be expanded to nine stories and converted into 175 apartments. The address falls within the Shevchenko district: a few blocks away is the Kyiv Zoo, dense development, and chronically overloaded infrastructure.
The factory itself is not going anywhere: according to the registry, JSC "NTK 'Elektronprylad'" retains the status of an active enterprise, and production facilities are located on two separate plots with a total area of over 34,000 square meters. This means it is not about liquidating the factory, but about selling or repurposing one of the buildings.
Why Riel buys rather than builds
The scheme of "buying a company with already approved permits" is standard practice on the Kyiv market. It allows entry into a project at a late approval stage, bypassing the most sensitive phase — urban planning hearings and change of purpose. Estate Develop has already gone this route; Riel receives a ready legal framework.
Reconstruction of an industrial building at 27/29 Bohdan Havrylyshyn Street into a nine-story building with 175 apartments — this is how the facility is described in the portal of the Unified State Electronic System in the field of construction.
YEDESSB
Riel — one of Kyiv's and Lviv's largest developers — is actively expanding its Kyiv portfolio. The Shevchenko district with views of the zoo and relatively green surroundings is marketing attractive, despite transport and infrastructure limitations.
What remains off camera
- Parking. 175 apartments in a district without spare courtyards — a standard point of future conflicts with neighbors.
- Factory status during construction. If NTK "Elektronprylad" is still fulfilling defense contracts on adjacent sites, construction noise and blocked access roads — are not merely domestic inconvenience.
- Deal price. The AMCU checks concentration, but does not disclose the amount — how much the "ready permit" cost is not publicly known.
If the AMCU approves the deal — and refusals in such cases are rare — the key test will be not the start of construction, but whether Riel submits a modified project with increased number of stories or area: that is when it will become clear whether "reconstruction" was the ultimate goal or merely an entry point.
