The Kuyalnyk sanatorium has been transformed into a medical and rehabilitation complex

The State Property Fund of Ukraine (SPFU) has launched a pilot project to transform the Kuyalnyk sanatorium in Odesa region into a modern medical rehabilitation and wellness complex of international level.

According to the Foundation's press service, the project is being implemented in the format of a public-private partnership and provides for the creation of the Kuyalnyk Rehabilitation Hub with the attraction of private investment while maintaining the facility in state ownership.

The project model envisages the transfer of management and modernization functions to a private investor, while maintaining strategic control by the state. The key objective of the initiative will be to develop a modern rehabilitation infrastructure, including the use of the unique healing resources of the Kuyalnyk Estuary. Special emphasis will be placed on creating conditions for the rehabilitation of veterans.

The expected investment in the Kuyalnyk sanatorium is between UAH 800 million and UAH 1.2 billion. The project implementation period is three to five years, with a payback period of seven to 10 years. After the transformation of the resort, the number of tourists is expected to increase by 30-40% in three years to 40 thousand to 60 thousand people annually, with an average room occupancy rate of 65-75%. The annual revenue after the launch of the renovated resort is estimated at UAH 180-250 million.

In August 2023, the Odesa Regional Prosecutor's Office reported on the actual execution of a court decision on the prosecutor's claim to return to state ownership the property of the association of sanatoriums at the Kuyalnyk resort worth about UAH 1 billion.

In February 2023, the Southwestern Commercial Court of Appeal overturned the decision of the first instance court and issued a new decision on the merger of the Kuyalnyk resort in Odesa region.

In July 2022, the court seized and transferred 80 real estate properties of health resort, sports and other state-owned complexes located in different regions of Ukraine to the National Agency of Ukraine for Finding, Tracing and Management of Assets Derived from Corruption and Other Crimes (ARMA). Among them is the Kuyalnyk sanatorium.

Кирило Бойко