Israeli businessman Ofer Kerzner buys two commercial properties in the center of Kyiv – Forbes – knows something?

Ofer Kerzner is an Israeli businessman, philanthropist, and since May 2013 has served as the Honorary Consul of Ukraine in Jerusalem.

Mr. Ofer Kerzner actively engages in public and cultural activities in Israel. He sponsors the “Gesher” Theater and numerous Zionist projects, such as “Tzabar”—a project that encourages young Jews to make aliyah to Israel and supports them during their service in the Israel Defense Forces.

City Capital Group, led by Israeli businessman Ofer Kerzner, according to an article by Forbes Ukraine, will become the owner of two major assets in the very center of Ukraine’s capital: the Leonardo Business Center (first phase) and the retail and entertainment complex “Univermag “Ukraine””, which previously belonged to the Irish banking corporation IBRC.

Quote: “I love Ukraine, I believe in the country and its potential. We have been investing in Ukraine for many years and would like to continue doing business here,”
— Ofer Kerzner, Forbes Ukraine comment.

Why This Matters for Israel and Ukraine

• Economic Aspect: for Israel’s Jewish community, this symbolizes trust in Ukraine’s economy and the willingness of Israeli businesses to participate in its recovery.
• Social Impact: the arrival of a new investor strengthens Kyiv’s position as a business hub, creating jobs and supporting infrastructure.
• Geopolitical Context: in the face of Putin’s aggression in Ukraine, such deals demonstrate resilience and the international community’s readiness to develop Ukraine’s market despite risks.

What Is Known About “Leonardo”

Leonardo Business Center is a project built on the site of a former hotel. Its reconstruction was carried out by the company “Yaroslaviv Val”, led by Leonid Yurushev.

The first phase, with an area of 23,155 sq. m, opened in 2005.

The primary tenants are office and IT companies, ensuring a steady inflow of tenants and stable revenue.

What Is Known About “Univermag “Ukraine””

The retail complex, with a total area of 45,330 sq. m, includes both local brands and international chains.

The complex features Valmart, Brocard, Intertop, Pandora, Jysk, Reserved, Sinsay, and others.

According to Forbes Ukraine, the revenue of “Univermag “Ukraine”” in 2024 increased by nearly 13%, reaching ₴113 million, and in the first quarter of 2025 it grew by almost 25%, to ₴33 million.

Background of the Deal: Who Is Ofer Kerzner

Ofer Kerzner (Kerzner) (Hebrew: עופר קרז’נר; born 1957) is an Israeli businessman, innovator, and investor, and has been the Honorary Consul of Ukraine in Jerusalem since May 2013. He received an award in the category “Best Creative Investor During a Crisis.”

Brief Biography

• 1975–1983 — Served as a pilot in the Israel Defense Forces.
• 1983–1990 — Implemented a project to create a national pharmacy chain and invested in the restaurant business in Israel; obtained an MGM license for Israel.
• 1990–1998 — Expanded a network of fast-food establishments (81 outlets).
• 1995 — Began importing alcoholic beverages and fruits to Russia.
• 1998 — Moved to Kyiv, studied the real estate market and Ukrainian legislation.
• 2001 — Co-founded the development company DeVision (a shopping center project on the highway, residential complexes on Sribnokilska Street and Mykola Bazhana Avenue, a five-star hotel in central Kyiv, and a golf club in Koncha-Zaspa).
• 2007–2025 — Established City Capital Group, whose portfolio includes six commercial properties in Kyiv (Leonid Korolenkovska Business Center, Platforma Office Club, Darynok market-mall, Art-Zavod Platforma, etc.).
• Social and cultural activities in Israel: Philanthropist of Gesher Theater and various projects (such as “Tzabar” — assistance to young olim during their service in the IDF).

Humanitarian Activities of Ofer Kerzner During the War

Starting from the first days of the full-scale invasion by the Russian Federation, Ofer Kerzner and the companies City Capital Group actively participated in supporting Ukraine both within the country and abroad.

• Organization of a major humanitarian hub on the left bank of Kyiv (Art-Zavod Platforma):
  — Over 10,000 tons of humanitarian aid delivered;
  — Processed over 30,000 requests;
  — Targeted assistance to medical institutions, including the National Institute of Cardiovascular Surgery named after M. Amosov.
• Evacuation of children from “Okhmatdyt” (March 2022):
  — Arranged a special flight for 11 critically ill children from the Kyiv Oncohematology Center and their accompanying parents;
  — Children received treatment at Schneider Children’s Hospital (Israel).
• Evacuation of civilians from Chernihiv, Kharkiv, Izium, Mariupol, Sumy, and Kherson: thousands of people relocated to safe regions.
• Construction of a bomb shelter for 400 people in a Kyiv suburb, where residents sought refuge during direct combat operations.
• Assistance to Kherson (November 2022): 20 tons of food and medical supplies sent.
• Delivery of defense equipment:
  — 1,500 bulletproof vests and helmets of the highest Israeli standard for the Armed Forces of Ukraine;
  — Supply of drones to military units on the front lines (Bakhmut);
  — Creation and transfer of searchlights for night air defense;
  — Project “City of Invincibility” — 68,000 sq. m in Darynok Mall (shelter for over 1,000 people, children’s zones, medical points, food provision, Starlink).
• Active military support: donations for developing women’s military uniforms, organizing demonstrations in Israel supporting Ukraine.

The Role of the Honorary Consul and Public Initiatives

• Honorary Consul of Ukraine in Jerusalem (since May 2013) — facilitates diplomatic and cultural ties between the two countries.
• Philanthropy in Israel: funds Gesher Theater and projects promoting aliyah (“Tzabar”).
• Support for young athletes in Ukraine: initiated projects to develop youth sports despite martial law.

Financial Details and Deal Statistics

• Estimated deal value: between $70 million and $100 million according to Forbes Ukraine.
• Investment in modernization: additional funding is planned for reconstruction, technological upgrades, and improving energy efficiency.
• Revenue of “Univermag “Ukraine””:
  — 2024 — ₴113 million (13% increase compared to 2023);
  — Q1 2025 — ₴33 million (25% increase compared to Q1 2024).
• Liabilities of “Univermag “Ukraine”” at the start of 2025: ₴3.9 billion, almost unchanged in Q1 2025.
• “Quinn Properties Ukraine” (management company):
  — 2024 — revenue ₴126 million (18.5% increase);
  — Q1 2025 — ₴36.5 million (20.6% increase);
  — Liabilities at the start of 2025 — ₴1.4 billion; in March 2025 — ₴1.2 billion.

List of City Capital Group Projects

• Leonid Korolenkovska Business Center
• Platforma Office Club
• Darynok Market Mall
• Art-Zavod Platforma
• Shopping Complex on the Left Bank of Kyiv
• Multifunctional Complex on the Left Bank of Kyiv
• Hotel Complex on Boryspilska Highway
• Cottage Town in Koncha-Zaspa

Impact on the Real Estate Market and Ukraine’s Future

• Strengthening the commercial real estate market: the deal from an Israeli investor enhances competitiveness and attracts other foreign partners.
• Job creation: after modernization, new tenants from the IT, retail, and entertainment sectors are expected to be attracted.
• Social significance: large properties serve not only as business centers but also as venues for cultural events, combining commerce with social infrastructure.

Impact on Israeli-Ukrainian Relations

NAnews – Israel News emphasizes that Ofer Kerzner’s purchase of commercial spaces in central Kyiv is not just a business transaction but a symbol of trust and solidarity.

• Economic diplomacy: Israeli investor activity helps strengthen bilateral ties and paves the way for joint projects in technology, construction, and social support.
• Cultural unity: funding cultural and humanitarian initiatives reinforces mutual understanding between Israel’s Jewish community and Ukrainian society.
• Support for the Ukrainian diaspora: initiatives based on acquired properties may open cultural and educational venues, fostering collaboration between diasporas and business circles.

Expert Quote (from Israel):
“The acquisition of two such major assets as ‘Leonardo’ and ‘Ukraine’ strengthens the trust between our countries and reaffirms that Ukraine remains a reliable partner for Israeli business,”
— NAnews analyst.

Risks and Prospects

• Military instability: escalation of the conflict could affect asset profitability, but the experience of working during the war (humanitarian hub, evacuations, defense support) demonstrates Kerzner’s readiness to operate under risky conditions.
• Political changes: legislative changes may require additional investment, but having an Honorary Consul simplifies communication with authorities.
• Currency fluctuations: fluctuations in the hryvnia and dollar exchange rates affect operating costs and investment returns.

Despite potential challenges, by the end of 2025, the modernized properties under City Capital Group management will become key elements of Kyiv’s business infrastructure, contributing to further strengthening mutual relations.

Conclusion

The deal by City Capital Group to acquire the Leonardo Business Center and the “Univermag “Ukraine”” shopping complex in central Kyiv demonstrates that Israeli investors, led by Ofer Kerzner, believe in Ukraine’s future and are ready to invest capital in an economy impacted by war.

NAnews – Israel News will closely monitor how this purchase influences the next stages of rebuilding Ukraine’s capital and what new opportunities it opens for strengthening Israeli-Ukrainian partnership.