The Outcome of Leasing State Property from the FSMU: Top Paying Companies and What They Lease
Mykola Siutkin
You do business, we mitigate risks | Business Investment Risk Advisor | Co-founder of S&P Agency | Attorney | Co-publisher LDaily | Ironman
In 2023, Ukraine's State Property Fund (FSMU) generated a substantial UAH 702 million in revenue from lease agreements. Of this sum, notable contributions came from the Odesa Oblast, primarily from leasing port infrastructure (approximately UAH 249 million). The business hub of Kyiv follows with over UAH 99 million, and the industrial center of Dnipropetrovsk region yields over UAH 63 million.
As of December, the FSMU held about 14,300 active contracts, marking a surge from 760 new agreements earlier in the year to an estimated 1,500 lease agreements.
Rental Leaders by Area
The FSMU administers a diverse range of assets available for rent, from modest spaces of a few square meters to massive plots over thousands of square meters.
At the helm of tenants is the Subsidiary "Odesa Container Terminal" of the "HHLA International GmbH", holding 3 contracts totalizing in 194,000 square meters leased from the FSMU State Department in Odesa and Mykolaiv regions. All agreements involve assets within the Odesa Sea Trade Port, comprising warehouses, covered sites, ramps, etc.
LLC "BROOKLYN-KYIV" also commands a sizable footprint, leasing around 187,000 square meters over 19 contracts in the same port of Odesa. TRANSGRAINTERMINAL LLC also emerges as a principal tenant, with two agreements amassing nearly 87,000 square meters of coastal property in the city of Chornomorsk.
The Largest Payers of State Rent
The lease agreement with CHERKASKE KHIMVOLOKNO PJSC for the Cherkasy CHPP rounds up as the most lucrative arrangement for the state, earning monthly revenues of UAH 3.74 million. Meanwhile, KRYVBASVODOKANAL and AGRO-RENI LLC follow close behind at UAH 2.5 million and nearly UAH 2.3 million per month, respectively, with BROOKLYN-KYIV LLC and the subsidiary of HHLA International GmbH also leasing port property, contributing UAH 1.7 million and UAH 1.35 million to the budget each month.
The agreement between PrJSC "Lviv Liquor and Vodka Plant" and the FDMU Regional Office for Lviv, Zakarpattia, and Volyn regions, estimated at UAH 1.23 million per month, also significantly contributes to the budget.
Most Active Tenants by the Number of Contracts
KYIVSTAR PJSC presently holds approximately 440 lease agreements with the FSMU, yielding monthly payments of nearly UAH 900,000. Following closely are PJSC "VF UKRAINE" (Vodafone brand with 391 contracts), PJSC CB "Privatbank" (256 contracts), LLC "Lifecell" (237 contracts), and JSC "State Savings Bank of Ukraine" (148 contracts).
Of the top performers, "VENDING LAND" LLC stands out with the company leasing an average of 4.2 square meters per contract from the FSMU (in total 95 contracts), yielding an approximate total of 400 square meters.
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At present, the FSMU leases out state-owned assets exceeding 8 million square meters. The sharp rise in lease agreements over the course of 2023 highlights the growing market demand for state properties, which vitalize the state budget significantly and ensure robust defense.