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“The team was recently visible advising on a number of pharmaceutical cases. Sources agree that the team is “moving in the right direction” and are particularly impressed by its work in the pharmaceutical sector”.


What Has the Construction Industry Gained and Lost in Ten Years?


Maksym Kopeychykov, Partner at Ilyashev & Partners Law Firm
Source: Abcnews

The main achievements include two, and one of them arises logically from another one: the industry is alive and growing, the number of new buildings in the investment-attractive cities does not decrease despite the crisis. It is something you can boast of. The reason inter alia is that the Ukrainian parliament in due course of time perhaps for the first time responded quickly to the changes taking place in the country (i.e. the 2008-2009 crisis), and adopted the necessary laws – first “On prevention of influence of the global financial crisis on the development of the construction industry and housing construction” and “On amendments to the acts of legislation on promotion of construction”, which simplified the work of developers significantly, then – without exaggeration a remarkable law “On regulation of urban development”, which gave a new impetus to the frozen market.

We can attribute to the losses the numerous blows to the reputation of the construction companies, which began with the Elita-Center and UkrAziyaBud, continued by scandals with the less well-known companies and are still ongoing. On the other hand, these reputational scandals contribute to the establishment of civilized rules of the game in the market, withdrawal of outsiders and “builders of pyramids” from the market, more rigorous approach of investors that stimulates the developers to work more transparently and not to go beyond the legal field.

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