The people that invested money in the Elita Center company’s housing construction project have called on the Kiev municipal administration to stop the competition it announced for the right to invest in construction of three residential buildings for, among others, the victims of the Elita Center apartment fraud.

They made the call in a statement, a text of which Ukrainian News obtained.

«We are calling for a stop of the investment competition, and we oppose announcement of its results,» the statement says.

It further says that the Elita Center investors have repeatedly made similar calls to the Kiev municipal administration and that the administration ignored these calls.

They believe that the Kiev municipal administration has not drafted a mechanism for providing housing to the victims of the Elita Center apartment fraud, has not established the order of provision of apartments to them, has not determined the location and size of the apartments to be provided to them, and has not selected the legal entity that will be in charge of distribution of the apartments.

«The consequence of announcement [of the results] of the investment competition will be enrichment of investors and deprivation of at least one-third of the victims at the expense of the remaining victims,» the state says.

It also says that the Elita Center apartment fraud victims will go to court if the Kiev municipal administration ignores their call and announces the results of the competition.

Meanwhile, acting head of the Kiev municipal administration and head of the administration’s main department of economics and investments, Denys Bass, said that the competition commission would study the call and respond to it in some way.

However, according to him, the call contains only emotions and no concrete proposals.

As Ukrainian News earlier reported, the Kiev municipal administration’s main department of economic and investments intended to select companies that will build three residential buildings for, among others, the victims of the Elita Center apartment fraud on February 15.

The source: Ukraine Real Estate Market