What Ukrainian Development Partners does

Ukrainian Development Partners (UDP) is a private Ukrainian real estate development company founded in 2002 in Kyiv, operating across three core verticals: premium residential complexes, commercial real estate (including the Ocean Plaza shopping center and the Kyiv Sikorsky International Airport), and innovation parks built for technology and creative industry tenants. Over its history, UDP has developed approximately 20 large-scale projects with cumulative investments exceeding $900 million, spanning more than 3 million m² of built space and a land bank of approximately 1,000 hectares across Kyiv, Lviv, and Kharkiv. The company serves residential buyers (7,000+ families in Novopecherski Lypky alone), retail tenants (300 shops and 30 restaurants in Ocean Plaza), and technology companies located within its innovation park ecosystem.

UDP's underlying technology stack centers on Building Information Modeling (BIM), deployed across all innovation park projects since 2018, combined with LEED-certified green building standards. The innovation park portfolio includes UNIT.City in Kyiv (25 hectares, $100M invested), LvivTech.City in Lviv (4.8 hectares, ~50,000 m²), and UNIT.City Kharkiv (9 hectares, ~250,000 m² planned). These parks function as integrated ecosystems hosting IT companies, educational institutions (UNIT Factory, an École 42 franchise; a 990-student STEM school), accelerators (Sector X), and coworking operations (IWG's Spaces brand). The product portfolio also includes the Arsenal renovation project and a $70M investment in the Kyiv Sikorsky International Airport.

The company monetizes through three channels: one-time residential and commercial property sales, recurring commercial leasing (across the Ocean Plaza shopping center and innovation park tenancies), and innovation park service revenues. Distribution combines direct enterprise sales, on-site sales offices, and international channels (e.g., MIPIM exhibitions). Strategic co-development partnerships with KAN Development and A Development support execution. Ownership has been in transition: the European Investment Bank provided a €50 million loan in 2020 for the Innovation Campus project, and in December 2021 the Antimonopoly Committee of Ukraine approved Andriy Ivanov's acquisition of a 55% controlling stake from co-founder Vasyl Khmelnytsky, with Q Partners (Ivanov's investment company) having assumed operational management in 2019.

Name

Ukrainian Development Partners

Legal name

UPD (Ukrainian Property Development) Holdings Limited

Website

https://udp.ua

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

51–100 employees

Short description

Ukrainian Development Partners is a private Kyiv-based real estate developer founded in 2002, operating across premium residential complexes, commercial properties, and innovation parks (UNIT.City, LvivTech.City) in Ukraine's major cities.

Ownership category

akta.pro rank

Headquarters

HQ city

Kyiv

HQ country

Ukraine

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Real Estate Development Sales: UDP develops and sells residential and commercial real estate including apartments, offices, and retail spaces. The company executes a complete control cycle from project creation and construction to commissioning, sale, and lease.
2. Commercial Property Leasing: Revenue from leasing commercial spaces in shopping centers (Ocean Plaza), business campuses, and innovation parks.
3. Innovation Park Ecosystem: Revenue generated from IT companies, startups, R&D centers, incubators, accelerators and educational institutions operating within innovation parks.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Ukrainian Development Partners (UDP) is a Ukrainian real estate development company that invests in, constructs, and operates large-scale residential complexes, commercial shopping and entertainment centers, infrastructure assets, and innovation parks across Ukraine's major cities (Kyiv, Lviv, Kharkiv). The company executes a complete development cycle from project conception and construction to commissioning, sale, and lease, with flagship projects including Novopecherski Lypky residential quarter, Ocean Plaza shopping center, Kyiv Sikorsky International Airport, and the UNIT.City and LvivTech.City innovation park ecosystems.

Product overview

Ukrainian Development Partners (UDP) is a leading Ukrainian real estate development company that creates infrastructure for sustainable and innovative development. The company operates a diversified portfolio of residential complexes, commercial properties, and innovation parks. Their residential portfolio includes business-class complexes like Novopecherski Lypky (690,000 m²), RiverStone (215,000 m²), Parkove Misto (360,000 m²), White Lines (128,000 m²), Smart Plaza Obolon (21,000 m²), Smart Plaza Polytech (53,000 m²), and Bulvar Fontaniv (180,000 m²). Commercial properties include Ocean Plaza shopping center (165,000 m²) and Kyiv Sikorsky International Airport. The company also develops innovation parks including UNIT.City in Kyiv (25 ha, $100M), LvivTech.City in Lviv (4.8 ha, 50,000 m²), and UNIT.City Kharkiv (9 ha, 250,000 m²), which serve as ecosystems for technology and creative businesses. UDP provides complete development cycle from concept to construction to commissioning, sale, and lease, with over $900 million in investments and 17 years of experience across approximately 20 projects.

Differentiator

Problem solved

Functional benefit

Products and services

• UNIT.City (Kyiv) Ukraine's first innovation park creating an ecosystem for high-tech and creative businesses, developed in partnership with KAN Development. Located in Kyiv on 25 hectares with $100M in investments, housing IT companies, startups, R&D centers, incubators, accelerators, and educational institutions.
• LvivTech.City Ukrainian innovation park in Lviv following Live-Work-Learn-Rest ecosystem principles, developed on 4.8 hectares of former industrial zone with 50,000 m² of campuses supporting 3,000 jobs and including IWG Spaces coworking (2,700 m²).
• UNIT.City Kharkiv Innovation park in Kharkiv on 9 hectares with approximately 250,000 m² of planned area, developed through reconstruction of the former exhibition center, including Unit Factory IT education facility.
• Novopecherski Lypky Modern business-class residential complex in Kyiv's Pechersk district with 19 hectares of green spaces and parks, spanning 690,000 m² with schools, kindergartens, and full infrastructure; home to over 7,000 families.
• RiverStone Residential complex on 7 hectares near the Dnieper River in Kyiv with 9 high-rise buildings covering 215,000 m², featuring fitness center, cafes, shops, and kindergarten.
• Parkove Misto Business-class residential complex in Kyiv's Podil district on 17.3 hectares featuring Kristerova Hirka park with cascade of lakes and green zones, spanning 360,000 m².
• Ocean Plaza One of Ukraine's largest shopping and entertainment centers at 165,000 m² with 300 shops, 30 restaurants, cinema, and 50,000 daily visitors; joint project with KAN Development with $300M investment.
• Smart Plaza Obolon Multifunctional residential complex with shopping and entertainment center and large park on stylobate, spanning 21,000 m² with 15,000 m² commercial infrastructure; UDP acted as investor, with A Development as developer.
• Smart Plaza Polytech Multifunctional complex with 53,000 m² in Kyiv featuring two residential buildings with shopping and entertainment center; one of the first mixed-use complexes in Ukraine.
• White Lines Modern multifunctional complex in Kyiv's Holosiiv district with 128,000 m² including three 24-story buildings with 566 apartments and two-level shopping mall; first Ukrainian project to reach World Architecture Festival finals.
• Bulvar Fontaniv Premium-class residential complex in Kyiv's historic center spanning 180,000 m² featuring Ukraine's first 150-meter light-and-music cascade of fountains.
• Kyiv Sikorsky International Airport International airport in Kyiv covering 265 hectares with 3 terminals and annual capacity of 3 million passengers; UDP undertook reconstruction in 2009 and invested $70M in new terminals and infrastructure modernization.
• Arsenal Renovation Revitalization of the former Arsenal plant territory and reconstruction of Arsenal Square; landmark project restoring historical buildings and creating modern public spaces (including Creative States coworking and Kyiv Food Market) in Kyiv's city center.
• STEM School at UNIT.City Innovative STEM school for 990 students spanning over 12,000 m² with laboratories, observatory, greenhouse, and outdoor learning areas, developed in partnership with Osvitoria NGO at the UNIT.City innovation park.

Quantifiable outcome

• 30% reduction in project design time using BIM
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered major, core and minor.

• WNISEF (Western NIS Enterprise Fund)majorStrategic or Co-development Partner · 1 January 2019Partnership with WNISEF to present TECH ECOSYSTEM GUIDE TO UKRAINE 2019 - first comprehensive review of Ukrainian IT industry with key market figures and ecosystem elements.
• KAN DevelopmentcoreStrategic or Co-development PartnerUDP partners with KAN Development for infrastructure development of UNIT.City innovation park in Kyiv and other projects. KAN Development co-invested in Novopecherski Lypky, Parkove Misto, and Ocean Plaza projects.
• A DevelopmentcoreStrategic or Co-development PartnerUDP works with A Development as developer for multiple residential complexes including White Lines, Smart Plaza Obolon, and Smart Plaza Polytech. Also partnered for Arsenal renovation project.
• IWG (Regus/Spaces)majorChannel Partner/ Reseller/ DistributorPartnership with IWG to open Spaces coworking (2,700 m²) in LvivTech.City - first IWG location outside Kyiv in Ukraine. Provides flexible office solutions for park residents with access to 3,300 global locations.
• Sector X AcceleratormajorStrategic or Co-development PartnerSector X acceleration platform launched at UNIT.City in summer 2018. 33 teams participated in pre-accelerator sandbox, 5 teams advanced to corporate pilots and sales in the US.
• UNIT FactorymajorStrategic or Co-development PartnerIT coding school franchise of French École 42 operating at UNIT.City Kyiv and UNIT.City Kharkiv. Provides IT education and talent pipeline for innovation park ecosystem.
• Osvitoria NGOminorStrategic or Co-development PartnerOsvitoria NGO team works on creating STEM school for 990 students at UNIT.City. Education focused on science, technology, engineering and mathematics based on high-performing country curricula.
• Creative States CoworkingminorChannel Partner/ Reseller/ DistributorCoworking operator located in renovated Arsenal territory. Part of creative ecosystem in historic industrial space redeveloped by UDP.
• Kyiv Food MarketminorChannel Partner/ Reseller/ DistributorFood hall operator in renovated Arsenal territory. Part of public space ecosystem in historic military factory redevelopment.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• CPI Property Group: One of the largest CEE real estate groups, active across Czech Republic, Germany, Poland, Hungary, and other markets with a diversified portfolio of offices, retail, residential, and hospitality. Comparable in scale and asset-class breadth, but with much larger geographic and capital-market footprint.
• HB Reavis: Slovak-founded commercial real estate developer operating across Central Europe (Czech Republic, Poland, Hungary, UK) with innovation-oriented mixed-use projects such as Nivy Station in Bratislava. Comparable scale, sustainability standards (BREEAM/LEED), and innovation-park ambitions make it a regional incumbent peer.
• GTC (Globe Trade Centre): Publicly traded CEE commercial real estate developer and investor headquartered in Poland with offices and shopping centers across Central and Eastern Europe. Comparable geographic footprint and commercial real estate focus, though broader portfolio than UDP's Ukraine-centric operations.

Emerging players

• Mindspace: Premium coworking and flexible office operator across Europe and Israel, similar in offering to IWG Spaces which has partnered with UDP at LvivTech.City. Comparable in providing innovation-tenant infrastructure within technology parks and innovation districts.
• Station F: World's largest startup campus located in Paris, offering innovation/tech incubation infrastructure comparable to UDP's UNIT.City and LvivTech.City. Relevant peer for the innovation-park component of UDP's portfolio, though targeting French/EU startups rather than Ukrainian IT ecosystem.

Direct peers

• KAN Development: Leading Ukrainian real estate developer and UDP's joint venture partner on UNIT.City Kyiv and Ocean Plaza shopping center. Operates similar premium residential and commercial developments in Kyiv, making it the closest direct competitor and frequent collaborator.
• A Development: Ukrainian real estate developer partnering with UDP on White Lines, Smart Plaza Obolon, Smart Plaza Polytech, and the Arsenal renovation. Operates comparable mixed-use and residential projects in Kyiv, making it a close direct peer in product offering and geography.
• Budhouse Group: Ukrainian real estate developer with residential and commercial projects in Kyiv and other major cities. Operates comparable premium residential developments targeting similar buyer segments as UDP.
• Taryan Group: Major Ukrainian real estate developer active in premium residential and mixed-use projects in Kyiv. Directly competes with UDP's residential and commercial product lines in the same target market.
• City One Development: Co-developer of Novopecherski Lypky (UDP's flagship 'city within a city' residential complex). Competes in the same Kyiv premium residential segment with comparable scale and product positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/udpua
• Facebookfacebook.com/udp.ua
• LinkedInlinkedin.com/company/udp-ukrainian-development-partners-

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ukrainian Development Partners