On 27 February 2023, the Ukrainian national hotel operator Ribas Hotels Group and the development company SENSAR Development successfully signed a Memorandum of Understanding on the system and standardisation of hotel business and management of the WOL by Ribas hotel-type apartment complex, created on the territory of the Smart Hill complex.
The apartment complex will be located in Yaremche (Bukovel) at 311 Svobody Street. The 11-storey facility will offer 315 apartments ranging from 13.6 to 60 m2.
The apartment complex will be located in Yaremche (Bukovel) at 311 Svobody Street. The 11-storey facility will offer 315 apartments ranging from 13.6 to 60 m2.
Construction of the facility started on 1 April 2023. It is scheduled to be completed in Q4 2024.
The development company SENSAR Development assumes the following obligations in the project:
- ensure that the property complies with the terms of the contract, the project presented to the investor, general technical standards and regulations of urban development, and take full responsibility for the quality and safety of the hotel;
- to build the apartments in accordance with the standards of the WOL apartment concept, within the stated timeframe and in accordance with the current state standards of hotel real estate;
- to carry out finishing works and complete the rooms and common areas, as well as install engineering systems that meet the standards of the WOL apartment concept of the Ribas Hotels Group hotel operator;
- be responsible for the sale of apartments and customer support for investors.
Ribas Hotels Group, a hotel operator, is committed to the project:
- provide ongoing management support and operational services at all stages of construction and operation of the apartments;
- ensure control over compliance with standards and requirements for the technological layout of apartments;
- to monitor compliance with the standards and requirements of the Ribas Hotels Group hotel operator during the operation of the hotel.
According to Mark Marchenko, founder of SENSAR Development, the main criteria that influenced the choice of Ribas Hotels Group as a hotel operator were the company's goal, principles and strategy: clear, transparent and professional. "SENSAR Development builds its strategy not only on construction, but also on additional and post-investment services. We want our investors to have a "ready-made business" rather than "dead" square metres," he commented.
The planned occupancy of the WOL by Ribas | Smart Hill complex is 55%. The average tariff is UAH 2500. As for the return on investment, 10% per annum is guaranteed (from $4500 per year in the form of net profit for the investor).
"The number of income-producing real estate projects in western Ukraine is growing rapidly. Thus, in 5 years, properties in the western part of the country will cost twice as much as they do now. In addition, the cost of construction is rising every month. Therefore, by investing in an income property now, we can expect its price to increase by 15-20% in a year," said Artur Lupashko, founder of Ribas Hotels Group.
Ribas Hotels Group
Ribas Hotels Group has 26 properties under integrated management and exclusive booking. The company designed and built 10 of them. The number of rooms is over 1000.
SENSAR Development
Developer, expert in the design, construction and operation of development projects. Since 2018, he has been actively building residential complexes, SMART Line investment projects, and commercial real estate.
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Contacts
Sales department
city Lviv, 73 Shevchenko str.
+38 (068) 707 09 08
+38 (066) 707 09 08
