The First Stage of Innovation District IT Park Construction Started

02 Jul, 2018
Innovation District IT Park, the largest infrastructure project of Western Ukraine, worth $ 160 million, was launched on June 30. The groundbreaking ceremony was hosted by the consortium of partners: project’s initiators Lviv IT Cluster and Galereja Centre, as well as investment companies Brookfield & Partners and Horizon Capital.

IT Park becomes the first in Ukraine infrastructure investment of one of the world’s largest asset management companies.

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  • Developer and investor of Innovation District IT Park, Galereja Centre, Volodymyr Zhenchak,
  • Honorary Ambassador of Lviv, CEO, Lviv IT Cluster, Stepan Veselovskyi,
  • Chief Architect of the project, Co-Founder of architectural firm Bose, Marek Tryzybowicz,   
  • CEO, Windermere Investments, Brookfield & Partners Consortium Lead, George Myhal,
  • Founding Partner & CEO, Horizon Capital, Lenna Koszarny,
  • CEO & Founder, N-iX, Supervisory Board Chairman, Lviv IT Cluster, Andrew Pavliv,
  • Canadian Ambassador to Ukraine, Roman Waschuk,
  • Deputy Minister of Economic Development and Trade, Mykhailo Titarchuk,
  • Lviv City Mayor Andriy Sadovyi and Lviv Regional State Administration Chairman Oleh Synyutka.

IT Park’s officially announced construction cost will total 160 million dollars, this amount is invested by several companies. Volodymyr Zhenchak, developer and investor of the project, Galereja Centre, says: “By 2021 we will build 6 8-story buildings with a lease area of 72 000 m2, one high-rise business center with a total area of 32 000 m2, a multifunctional center with a variety of leisure and relaxation areas, conference rooms, and an international network hotel. However, the real value of IT Park cannot be measured with square meters. It’s a very ambitious project, and our goal is to implement it in the best possible way”. Galereja Centre has become the first stakeholder, who supported the idea of IT Park back in 2016.

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George Myhal, CEO, Windermere Investments, Brookfield & Partners Consortium Lead: “This is a project which has been initially conceived here in Lviv by the IT community. They were the ones who championed the project. We started to understand how important IT sector is for Ukraine and how successful it is on a global scale. The companies are growing exceptionally fast, they are generating revenue in foreign currency and they are employing some of Ukraine’s brightest talent. That gave the project a strong underpinning. Another consideration, when making a decision to invest in this project, was a strong local partner involved”.

With the number of employees increasing every year, the IT industry remains one of the most dynamic in Ukraine. According to IT Research 2.0. conducted by Lviv IT Cluster, in 2015 192 IT companies operated in Lviv, this number has now grown up to 250. The number of IT professionals has grown from 15, 000 to 20, 000 in just 2 years. The rapid growth of the industry has become an impetus for the idea of the park, and then its implementation. Before the construction of the complex, 60% of the office areas have been pre-booked by IT companies. Future tenants already include SoftServe, N-iX, GlobalLogic, Intellias, and Perfectial.

Oleh Denys, VP, SoftServe and a future tenant of IT Park, says: “The role of IT companies in this project was highly crucial: we are not just tenants, but also allies and partners of the project. The concept was born in Lviv IT Cluster, and we, its member-companies, succeeded in inspiring both authorities and investors”Vitaliy Sedler, Co-Founder & CEO, Intellias, adds: “For most companies it is not a problem to build new office buildings. However, today is about creating the whole ecosystem, which IT Park will become, that directly influences the IT industry and the city”.

Innovation District IT Park is of a paramount importance for the city as well as for the IT community since this is a place where future IT professionals will work and study. Besides office areas, a 4 000 m2 university campus and modern laboratories will also be located on the IT Park’s premises. They will be publicly available to scientists and students from local educational institutions. The idea behind the educational unit is to grant students an opportunity to immerse themselves into the epicenter of IT industry, apply acquired knowledge in practice, working closely with the IT companies located nearby.

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Andrew Pavliv, CEO & Founder, N-iX, Supervisory Board Chairman, Lviv IT Cluster about the project: “It is an exceptional example of trust between representatives of IT companies which have combined efforts for the mutual goal. Together, we are more competitive at the global market. Due to the educational constituent of IT Park, the number of qualified specialists in multiple fields will increase constantly which is highly beneficial for all sides”.

Investment fund Horizon Capital has also become a partner of the project, Lenna Koszarny, Founding Partner & CEO comments: “As a leading investment company in Ukraine with more than $ 750 million under management, we are very pleased that the relationships that we have long started with George Myhal and Brookfield & Partners Consortium today bring the following results. We proudly participate in the groundbreaking of this unprecedented project, which aims to facilitate the further development of the IT industry in Ukraine and the region. I am proud to be a part of this project”.

The complex will also offer the necessary infrastructure for large events: spacious conference rooms, a hotel, and three multi-story business centers. A multifunctional center will provide leisure facilities nearby: a fitness center, shops, cafes, and restaurants.

In less than 3 years, Innovation District IT Park will completely change the visual look of the city. A very short period of time has passed from our idea to its conceptualization and engagement of the key partners. The fact that the project is supported by top companies of Ukraine and the world, authorities and investors, confirms that we are moving in the right direction. I want to thank everyone present here and everybody who’s driving the IT industry forward. Lviv IT Cluster is already planning the next large-scale projects,” Stepan VeselovskyiCEO, Lviv IT Cluster. 

About the companies:

Lviv IT Cluster – the first Ukrainian IT-community that unites 13 000 IT specialists and more than 80 IT companies in Lviv. IT Cluster has experience in implementing infrastructure projects, among which is an apartment block for IT professionals known as IT House. The associate also successfully modernizes education at Lviv universities, promotes the city in professional environment and at a global level.

Galereja Centrе –  a private investment and development company that implements commercial real estate projects in Lviv and the Western region. Among the most successful projects of Galereja Centre – the shopping mall “Forum Lviv” built in cooperation with Blackstone Group – an American investment group that owns assets of more that $311 billion in total.

Horizon Capital – a leading investment company in Ukraine, with assets of more than $ 750 million under management and has more than 25 years of investment experience in the region, having invested investing more than $ 570 million in 140 companies, with 46 thousand employees. The investment strategy of the company focuses on export-oriented companies and individual leaders of the domestic market in fast-growing sectors of the economy, including IT. Horizon Capital is well-known for its commitment to transparency, corporate governance, value-added and successful e