History

The history of Group development is the perfect example of how the small company turned to be the biggest private investor in the field of commercial property.

SCM Group’s business rampant development and the participation of million Ukrainian fans favorite football team Shakhtar in prestigious European tournaments are the main reasons for building a high-class hotel in Donetsk – the industrial center of Eastern Ukraine.

In 2004, the first 5-star hotel in Donetsk Donbass Palace was opened. Its opening and also need to consolidate existing Group’s assets in real estate sector caused the industrial holding invention.

On 30 May 2006, SCM Group started a managing company SCM Estate, in order to consolidate existing assets in the real estate sector. Over 80 hectares of land plots were put under SCM Estate management within the first year of company’s operation.

At the end of 2006 the second hotel of the Group, Opera Hotel was opened in Kiev, which also has become a part of the Holding. The vigorous growth of the Ukrainian market made SCM Group further investor in the real estate business.

In November 2007 the SCM finished forming the future holding structure and real estate became one of Group strategic businesses.

In March 2008, in the city of Cannes (France), ESTA Holding (former SCM Estate) was presented at an international real estate forum MIPIM. ESTA Holding established ESTA Group that includes hotels Opera Hotel and “Donbass Palace”, projects Pyshkinskiy Business Centre (Donetsk) and multipurpose complex on Moskovska square (Kiev), logistics center in Dnepropetrovsk and a land bank of over 80 hectares.

In 2008 the ESTA Property Management Company was established, whose key objective was operating real estate management and exploitation. In May 2010, as part of Ukraine’s preparations for Euro 2012, ESTA Group acquired Kiev Hotel in the center of Donetsk and started to reconstruct the building. Hotel Kiev is the first hotel of the medium category belonging to the Group, managed by international hotel management company The Rezidor Hotel Group and the first hotel in the city opened under brand Park Inn Hotel by Radisson.

In September 2010 ESTA Holding acquired 23% of Kiev Central Department Store.
In December 2010 the decision of full asset acquisition was made. In March 2011 the bargain was totally concluded. Acquisition of Kiev TSUM meets the Group's development strategy of concentration on unique and qualitative real estate items in full extent. Besides, the reconstructed building is expected to be the best trading facility in Ukraine and Kiev landmark.

At the beginning of 2011, a separate line of hotel business management was developed in order to define the strategy and develop Group's project portfolio, to raise the hotel business efficiency and also to improve quality standards of provided services. Within a long-term ESTA Group strategy at the end of 2011 ESTA Holding has completed the acquisition of 50% in the second phase of Leonardo business center, located in the center of Kiev. Previously ESTA Holding possessed Leonardo business center on the parity basis with Yaroslavov Val company. After the transaction, ESTA Holding became the proprietor of 100% second phase of the business center.

In April 2012 ESTA Holding officially announced about the rejection of the office center project realization on the place of former factory Junost, located on Frolovska street 9-11. In the course of running the socially responsible business and following the fundamental values, ESTA Holding, through communication with the public, made decisions to create a new project of art space in the place of the former factory building. The company made immediate steps on new project realization, having initiated the preparation of establishment of Public –expert board, designed to participate actively in art space project realization, having appointed the Coordinator of the Board, which main task is activity on Board establishment and communicate with public directly. For information about the process of project realization in details, please visit our official website www.junost.org.ua.

In April 2012, the solemn opening ceremony of hotel Park Inn by Radisson took place in Donetsk, reconstructed by ESTA Holding in the course of preparation for Ukraine to EURO 2012.

New reconstructed hotel includes 171 guest rooms, among them there are 132 rooms of medium category (including 1 room for the disabled), 25 business class rooms, 14 suite rooms. Park Inn by Radisson Donetsk is the first Group’s hotel of the medium category, managed by international hotel management company.

In August 2012 the Inspectorate of State Architectural and Construction Control in Donetsk oblast issued the certificate of project readiness for Pushkinskiy located at 1 Marinskaya St. , to be put into operation, and in November of the same year, after completion of the repair works the first tenants appeared in the premises of the MUC. 

The construction of the Complex took four years, and the total investment in the project amounted to more than $ 120 million. The Complex consists of two buildings: a 24-storeyed building and a free standing 5-storeyed stylobate, and it is located close to the central Lenin square. 

The total building area is 48,804.7 sq.m, 25,942 sq.m of which is office space. Companies from Germany, Italy, Serbia, and the USA were engaged in the Project execution. Thus, German company Schwizke was the author of the concept, and the prime contractor of the construction was Synthesis Engineering, a subsidiary of the largest Italian construction Group Montagna Costruzioni. The building of the Complex is constructed using the modern energy-saving technologies. The unusual facade solution was developed by one of the world most famous engineering companies – Permasteelisa Group (Italy). In addition, the technology of facade double glazing was applied here for the first time in Ukraine. 

The Project is fully consistent with the ESTA Holding company strategy - to form a portfolio of unique projects in terms of quality, location, and value for the city.

In addition, the process of development and approval of the reconstruction concepts of the Kyiv TSUM is one of the ESTA Group’s key projects continues. Its opening is pre-planned for the summer of 2016.