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[/en/] part of SCM group CEO Statement ESTA Group and ESTA Holding Business History Management Values and principles Corporate structure Corporate governance Careers in ESTA Group Contacts Investment and Development Hotel Management ESTA Property Management Real Estate of the Group Projects of the Group Land Bank Map of assets The Company's Strategy Corporate Governance Corporate structure Financial Performance and Accounting Corporate Governance and Business Ethics Working Conditions Environment Local Communities Sponsorship and Charity News Media Publications Presentations and Speeches Press kit Questions and Answers Gallery Links Video Map of assets Esta Holding The largest Ukrainian investor in the real estate sector Having consolidated existing assets in real estate, the biggest Ukrainian financial and industrial group System Capital Management established an industrial holding ESTA Group. Today ESTA Group is one of the most successful players in Ukrainian real estate market and the biggest private company that annually invests over USD50m of its own funds in business development. The company owns 70 hectares of land, 150 sq.m. of real estate and also about the same amount of real estate being under development. ESTA Holding is responsible for making strategic decisions for ESTA Group business development. … more Copy Hide Esta Holding The largest Ukrainian investor in the real estate sector Having consolidated existing assets in real estate, the biggest Ukrainian financial and industrial group System Capital Management established an industrial holding ESTA Group. Today ESTA Group is one of the most successful players in the Ukrainian real estate market. The Group's portfolio includes operating facilities, construction sites and a land bank. ESTA Holding is responsible for making strategic decisions for ESTA Group business development. ESTA's activity is focused on three core business areas: investment and development of commercial and residential real estate of premium segment; hotel business; management and maintenance of real estate. ESTA Group is a responsible corporate citizen. Before making any decision, we assess its contribution to economic and social development of Ukraine. Latest news 13.10.2011 Esta Holding, Ukraine’s largest investor in the real estate sector, has signed a full management … more 23.06.2011 ESTA Holding completed the preparation and international audit of its consolidated financial statements … more 16.05.2011 Proekt-2012, a company of the ESTA Group, signed an agreement with Ukrsotsbank PJSC to borrow UAH 72 … more 04.04.2011 Donbass Palace recognized as the best ukrainian hotel … more 24.03.2011 New management team in ESTA Holding … more 02.03.2011 ESTA Group Completes Acquisition of Kiev TSUM … more 11.02.2011 ESTA Holding Creates Hospitality Business Development Division … more 17.12.2010 ESTA Group Buys Kiev Central Mall … more 07.06.2010 ESTA Group Reconstructs Kiev Hotel in Donetsk … more 29.03.2010 Nikolay Nesterenko, Chief Executive Officer of ESTA Holding, has been listed in Top-10 Most Effective … more Archive of news ESTA Holding brings Park Inn by Radisson hotel to Ukraine Esta Holding, Ukraine’s largest investor in the real estate sector, has signed a full management agreement with the Rezidor Hotel Group bringing an international mid-scale brand Park Inn Hotel by Radisson to Ukraine. The property is being developed on the basis of the existing ‘Kiev’ hotel perfectly located in Pushkin Boulevard in the center of Donetsk. “Park Inn Donetsk will be the first internationally managed mid-class hotel in Ukraine bringing the expertise and high standards of affordable accommodation to the Ukraine’s hospitality market,” said Dejan Djordjevic, Managing Director of the Hospitality Business, Esta Holding. “The Park Inn Donetsk will perfectly complement our existing upper scale hotels in Donetsk and Kiev – Donbass Palace and Opera Hotel and will be an important input to the cities preparation for Euro-2012 Championship”. Park Inn Donetsk featuring 172 rooms is scheduled to open in Q1 2012. Besides modern and comfortable guest rooms, the hotel will offer an all-day-dining restaurant, a lobby bar, a gym and four meeting rooms. “The Ukraine is a key market in Eastern Europe for us. We are already successfully operating our upper upscale brand Radisson Blu in the country, and are delighted to follow with our young and dynamic mid market brand Park Inn for which we see a considerable growth potential”, said Kurt Ritter, President & CEO of Rezidor. ESTA Group Consolidated Financials Audited ESTA Holding completed the preparation and international audit of its consolidated financial statements for 2010. PricewaterhouseCoopers, one of the world’s largest auditors and consultancies, has audited ESTA Group’s head office – ESPV Limited – for the third consecutive year. In 2010, ESTA Group’s total assets amounted to USD 370.3m (in 2009, USD 224.6m) and property portfolio as of 31 December 2010 made up USD 337.2m, which is USD 128.9m more than in 2009. This growth was driven by acquisition of new assets, capital investments in construction and the increased value of the operating properties. The Group earned net profit of USD 15m (in 2009, net loss was USD 37.5m) from the revaluation of the investment properties and higher revenues from the hotel services and rent. ESTA Group’s consolidated statements cover the financial performance by all the businesses operating under the umbrella of the Group. “ESTA Group strives to meet the international standards and global best practices in every area of its business. Preparation of the annual financial statement is one of the major criteria of business transparency and openness to investors and public,” says Yulia Basistaya, Chief Financial Officer of ESTA Holding, managing company for the ESTA Group. “We are sure that the efficient system of the Group’s portfolio management was the key factor underlying the increase in business value and profits despite the challenging market situation”. These are the third consolidated statements prepared in compliance with the International Financial Reporting Standards (IFRS) and audited by an international consultancy. ESTA Group Takes Loan to Develop Portfolio Proekt-2012, a company of the ESTA Group, signed an agreement with Ukrsotsbank PJSC to borrow UAH 72 m in order to reconstruct Kiev Hotel in Donetsk. It has been the first external loan of the ESTA Group for five years of its operations. “Despite a difficult situation in the Ukrainian real estate market, large banks are getting more interested in funding ESTA Group’s projects,” says Yulia Basistaya, Chief Financial Officer of ESTA Holding which is the managing company for the ESTA Group. “This proves that the strategy of pinpoint investment in unique and meaningful projects in terms of infrastructure was the right choice of ours.” The loan is scheduled for final agreement and execution in May. Donbass Palace recognized as the best ukrainian hotel The International Tourism Exhibition UITT'2011 opened in Kiev on 23 March and awarded participants of 100 Best Hotels of Ukraine ranking, where Donbass Palace took the top place Donetsk, 29 March 2011– Donbass Palace Hotel won the Ukrainian ranking 100 Best Hotels of Ukraine organized by the Council for Tourism and Resorts and the Association of Hotel Unions and Hotels of Ukrainian Cities. The nominees were selected by a special Expert Panel consisting of chief executives of major professional associations, leading Ukrainian tour operators, hotel categorization experts, state authorities and media. The experts applied a traditional approach for the hospitality industry appraising the hotel’s overall level, room capacity, restaurant quality, spa and fitness facilities, as well as the staff. Donbass Palace received the highest score and thus took the first place in the ranking. Dejan Djordjevic, Managing Director of ESTA Holding Hospitality Business and Donbass Palace CEO, commented on the award: “We’re certainly happy to receive the national recognition. But this doesn’t mean we’re going to stop and be satisfied with what we’ve achieved. Hospitality industry goes forward so quickly that we have to keep up developing our services all the time and continuously raising the standard of our services”. In 11 December 2005, Donbass Palace joined The Leading Hotels of the World , which is the most competent organization in the hotel business with 425 world-known business-class hotels in over 80 countries. In 2005, 2006 and 2007, Donbass Palacereceived the World Travel Awards, the most recognized award in world tourism industry, as the best hotel of Ukraine. In 2006 and 2007, the World Travel Awards Association called Donbass Palacethe best business-class hotel of Ukraine. New management team in ESTA Holding Maksim Gromadtsov, who has recently occupied the position of Investment Manager and Chief of Analysis and Research Department, has been appointed Investment Director of ESTA Holding, the ESTA Group's managing company. Maksim’s area of responsibility will include Group’s portfolio strategic management. In particular, he will deal with existing projects and assets development, new projects acquisition and development and also property management and consulting as new business areas. Maksim has substituted Elena Arkhipova on this position, who has made a decision of taking a training course in Insead International Business School. Yulia Basistaya, who has recently occupied the position of Financial Controller – Assistant CFO, has been appointed ESTA Holding CFO. Yulia’s main priority will be management of Holding’s Financial Department. Besides this, Anton Glivinskiy, who has recently occupied the position of PR Manager, has been appointed PR and Communications Director. His area of responsibility will include strategic management of ESTA Group and ESTA Holding image. Additional information: Maksim Gromadtsov graduated from Belarusian State University (Minsk) as Lawyer-Politologist. In 2006 Maksim got master degree in Central European University (Budapest, Hungary). Maksim has been working for ESTA Holding since 2008. Before appointment Investment Director he had occupied the position of Investment Manager and Chief of Analysis and Research Department. Anton Glivinskiy graduated from Donetsk National University, speciality Politology. In October 2010 he got a degree of Candidate of Political Sciences in Dnepropetrovsk National University. Anton has been working for SCM Group since 2006. Before appointment PR and Communications Director he had occupied the position of Manager of ESTA Holding Corporate Communications Department and was also engaged as SCM Project Specialist. Yulia Basistaya graduated from Dnepropetrovsk University of Economics and Law, specialty Finance and Credit. Before coming to SCM Group she was employed in SJSC Dnepropetrovsk Oil Extraction Plant (TM Oleyna) as Financial Reporting Manager. Miss Basistaya has worked for SCM since 2005. Since she’d started working for SCM and up to September 2006 she occupied the position of Financial Reporting Department Specialist, later – Department of Financial Control Manager. Yulia has been working for ESTA Holding since 2008. Before appointment ESTA Holding CFO she had occupied the position of Financial Controller. ESTA Group Completes Acquisition of Kiev TSUM The ESTA Group has consolidated the assets of Kiev TSUM and М-Service and established Stolichniy TSUM, a company formed to manage and develop the project. Today the concept of TSUM reconstruction is under development. "We started working on a concept even before closing the deal and we've engaged specialists with strong expertise in managing such projects. We are confident that we will make the right decision and TSUM will reclaim the status of the best retail destination of Kiev and Ukraine," noted Maksim Gromadtsov, Investment Director of ESTA Holding, the ESTA Group's managing company. TSUM's new concept will be presented within the next few months. ESTA Holding Creates Hospitality Business Development Division Dejan Djordjevic has been appointed the Managing Director of the Hospitality Business of ESTA Holding. His main objective will be to define the further strategy, develop the hotel project portfolio of the ESTA Group, improve the efficiency of the Group's hospitality business and raise the quality of services. "Hospitality business has always been a focus for ESTA Group. However, while before each facility had a manager who defined its strategy, now it is the managing company, which is responsible for strategic management," stated Nikolay Nesterenko , CEO of ESTA Holding , the managing company of the ESTA Group. "Dejan Djordjevic has been appointed to manage this direction. We believe that the unique experience of Mr. Djordjevic will help us to set even higher hospitality standards for our hotels and the Ukrainian market as a whole." Jejan's responsibilities will include the development of the ESTA Group's hotel project portfolio consisting of two functioning five-star hotels (Opera in Kiev and Donbass Palace in Donetsk) and one hotel under reconstruction (Kiev hotel in Donetsk). Dejan Djordjevic noted in his comments: "I am happy to continue my hospitality business career here in Ukraine as the national hotel market has a huge potential. Each of three ESTA hotels is unique in its way and Donbass Palace and Opera are members of the Leading Hotels of the World association, which ensures the highest hospitality standards. I am thankful for this possibility and sure that together with the hotel teams and ESTA holding we will be able to ensure sustainable growth of this business." Dejan Djordjevic has 19 years of experience in one of the best international hotel chains Hyatt (Moscow, Almaty and Belgrade). The last three years Dejan was the Managing Director of Alatau Hospitality, a company investing in different projects all over the world. In particular, on this post he managed the Four Seasons Bora Bora project and chaired several de luxe hotel projects in Almaty and the Seychelles. ESTA Group Buys Kiev Central Mall Stolichniy TSUM, a company operating under ESTA Group, obtained permission from the Antimonopoly Committee of Ukraine to concentrate the integral property of Central Department Store in Kiev (Kiev TSUM). The process to buy the building in Bogdana Khmelnitskogo street and its land is expected to be over within three months. "After long negotiations we decided to buy the integral property of TSUM and develop it as an individual project", said Nikolay Nesterenko, Chief Executive Officer of ESTA Holding, which is the managing company of ESTA Group. "We believe that this asset will be an excellent addition to the Group's portfolio". The company is developing the concept for further development of TSUM to be presented later. "Since its inception Kiev TSUM has been one of the major shopping centres in the capital. Unfortunately, it does not match the imperatives of the modern times in terms of technical state of the building and the product mix. We believe that we can turn TSUM into the best trading platform of Ukraine ", Mr. Nesterenko said at the end. ESTA Group Reconstructs Kiev Hotel in Donetsk As part of Ukraine’s preparations to host Euro 2012 ESTA Group is reconstructing Kiev Hotel in Donetsk. The company Proekt-2012 under umbrella of ESTA Group has completed acquisition of the integral property complex of Kiev Hotel located in Voroshilovsky district of Donetsk. The transaction totaled to UAH 24.6m. Along with it ESTA Group assumed obligations to bring Kiev Hotel to the global standards. "Accommodating guests of Euro 2012 on the highest level is a priority objective set to the hotels of ESTA Holding," stated Nikolay Nesterenko, General Director of ESTA Holding, the managing company of the Group. "Today we take the responsibility to reconstruct Kiev Hotel in Donetsk. We are confident that existing practices will help us create a top-class hotel to the global standards." The reconstruction concept is currently being finalized and will be approved in near future. Now ESTA Group owns two hotels: Opera Hotel (Kiev) and Donbass Palace (Donetsk), the only Ukrainian members of prestigious international organization The Leading Hotels of the World. As part of preparations to the championship Opera Hotel and Donbass Palace were the first among Ukrainian premium-class hotels to sign agreements with TUI Travel, the official tour operator of Euro 2012. Kiev Hotel was opened in 1973. The four-storey building of 5,665 sq m has 45 rooms not certified according to the State Standards of Ukraine (DSTU). Nikolay Nesterenko in Top-10 Most Effective Senior Managers in Real Estate Nikolay Nesterenko, Chief Executive Officer of ESTA Holding, has been listed in Top-10 Most Effective Senior Managers in Real Estate, according to the rating developed by Ukraine's major specialized real estate magazine, Building Business. The rating comes from a survey of 33 real estate market players: general contractors, brokers and legal companies. Effectiveness criteria included: continued design and construction works by the company managed by or with participation of the senior manager; successful investment raising deals in 2009 and purchases/sales of property concluded with participation of the senior manager. "It's not an appraisal of me but of the entire ESTA team, where I am lucky to work", says Nikolay Nesterenko. In the tough 2009, we managed to keep revenues on the pre-crisis level and continue key projects of ESTA Group: Pushkinskiy mixed-use complex and a mixed-use complex in Frolovskaya street in Kiev." Along with Nikolay Nesterenko the rating also includes senior managers of the following companies: T.M.M., FIM, KDD Group N.V., Vita Veritas, Seven Hills, Granit, Domus, DEOL Partners, Panorama Group. eng рус укр Blog Subscribe Home Map ESTA.UA MEMO.UA