From business to media: what Adnan Kivan left behind and who will continue his work

On October 28, Adnan Kivan, the founder and chairman of KADORR Group, passed away. His business in Odesa is very noticeable, suffice it to say that KADORR Group has built 46 residential complexes Pearl, several business centers, the Arab Cultural Center and more in the city, in addition to the business empire of the businessman of Syrian origin includes agribusiness and a package of media resources. In 2021, Adnan Kiwan was among the hundred richest Ukrainians according to Forbes.ua.

First money

In 1986, he organized a company that mediated negotiations between the USSR and its Arab debtors, Forbes writes. According to Kivan, the company received 1.5-7% commission from each debt repayment transaction. By 1990, the businessman estimated that he had earned about $60 million.

Intent's interlocutors add that it was during this period that Adnan Kivan developed close ties with serious US circles, both at the business level and at the level of the State Department.

Construction.

Adnan Kivan entered the construction business in 2005, first as an investor, then as a developer and achieved a leading position in the city. In Odesa, the First Pearl was commissioned in 2011, and in Kyiv, 38 Pearl was commissioned in December 2019. The company's website declares that KADORR Group has commissioned more than 5 million square meters of residential and commercial real estate.

The company has always had an excellent reputation as a developer that meets deadlines. In addition to the Pearls, the developer's portfolio includes residential complexes with the names Oasis, Dubai in Odesa, Napoleon Business Center, Kadorr Shopping Center, Kadorr Business Center, French Boulevard Business Center, Kadorr City Mall, Astashkina Shopping Center, and Kadorr Shopping Gallery.

However, his urban planning projects are known in the market for their low cost of living space and disregard for aesthetic building standards.

Photo: kadorrgroup

Rantier.

Forbes lists Adnan Kivan as one of the 25 largest rentiers in Ukraine. According to the publication, as of 2021, the businessman of Syrian origin owned half of the Napoleon business center. The portfolio included nine other business centers and shopping malls, as well as commercial premises in residential complexes built by Kadorr Group. The total area of commercial real estate amounted to 145 thousand square meters, and the annual income from this activity was approximately USD 35 million.

Agribusiness

Since 2018, Adnan Kivan has been actively investing in agribusiness. KADORR Agro exports its products to Europe and Asia. The main asset is an elevator complex in Vyshneve, Dnipro region, which was opened in June 2020. The elevator provides simultaneous storage of up to 65 thousand tons of grain.

Media.

In 2014, Adnan Kivan became a prominent player in the Odesa media field when he acquired two regional TV channels, ART TV and Radio Company LLC and RIAC-Inform LLC. The two resources were merged under the Channel 7 brand, and later joined by the online publication Ukrainian Information Service (USI).

On August 30, 2024, it became known that Channel 7 would suspend broadcasting on September 1, and it was reported at the same time that the online edition would also cease operations. However, on September 7, the editor-in-chief of USI , Tetiana Mylymko, announced that USI was resuming its work, and that several strong journalists from Channel 7 would join the publication to work on exclusives, interviews, and other original materials.

In 2018, the businessman bought the English-language edition ofthe Kyiv Post. At first, he did not interfere in the work of the editorial board, but later there were instructions to criticize the authorities less, the BBC writes. After Adnan Kivan decided to open a Ukrainian-language version of the publication and appoint a person who ran a TV channel in Odesa under his control as editor-in-chief, journalists began to protest. The businessman promised to preserve the independence of the media, but they did not find a common language, and eventually in the fall of 2021, the newspaper was suspended, leaving only the website. Most of the journalists then resigned from the editorial office and created a new publication, The Kyiv Independent.

Politics.

Adnan Kivan was first widely talked about as a political player in 2015. The businessman supported the head of the Odesa Regional State Administration Mikheil Saakashvili, who had a conflict with the mayor Hennadiy Trukhanov. In the same year, local elections were held where Sasha Borovik, an associate of the Georgian-born politician, challenged Mayor Gennadiy Trukhanov. His campaign financing was attributed to Adnan Kivan.

Photo: hromadske.tv

Hennadii Trukhanov retained his position, but the conflict between the mayor and the businessman has been counted since then. In the 2019 presidential election, they also found themselves on opposite sides of the political fence. Hennadii Trukhanov supported Petro Poroshenko, while Adnan Kivan was credited with financing Volodymyr Zelenskyi and his political force.

Excerpt from an interview with the BBC on April 5, 2019.

BBC News Ukraine: Can you name your main opponent in Odesa, who are you referring to?

Gennadiy Trukhanov: I have already told you. It is the owner of Kadorr. I don't know how he manages to get a court decision to ban inspections of his companies. He built many thousands of square meters in the Neftyanik sanatorium. Under the stone jungle there is a healing spring. The Regional Architectural and Construction Inspectorate banned the construction, and the court suspended its inspection.

In 2017, the Security Service of Ukraine conducted searches at KADORR Group on suspicion of financing the so-called DPR-LPR militants through the former fugitive deputy of the Odesa City Council, Ihor Markov. The results of this investigation are not known, but on the sidelines, some viewed this visit of law enforcement to the businessman as a greeting from the city council.

In June 2024, having considered Adnan Kivan's claim for protection of honor, dignity and business reputation regarding the statements of Odesa Mayor Hennadiy Trukhanov, a judge of the Kyiv District Court of Odesa ordered the mayor to refute the false information he had disseminated.

The court recognized the following information as unreliable (in the original language):

"There is a constant struggle in Odesa. One of those who wanted to monopolize the construction market is Adnan Kivan, he is fighting to be a monopolist. He has always fought for this. You can see it in the inscription KADORR... instead of 15 thousand square meters, 45 thousand were built, and Saakashvili signed the documents on the allocation of this plot when he was the governor of Odesa region. After that, as soon as the house was built, he celebrated his housewarming party in the penthouse and showed it to the whole country. Do you think any of the law enforcement agencies, the NABU, at least opened an ERDR, at least invited and interviewed him, what you were doing there and how you got this apartment?

Gennadiy Trukhanov.

Judge Olena Vasylkiv ordered Hennadiy Trukhanov:

• refute the false information he disseminated, no later than 5 days after the court decision enters into force.
• to recover from him the court fee in the amount of UAH 1,816
• to recover from him the costs of the expert examination in the amount of UAH 1,3591.

It should be noted that Odesa Mayor Gennadiy Trukhanov did not comment on the death of one of Odesa's most prominent businessmen on his telegram channel and Facebook page.

Who is the heir?

Intent's interlocutors, speaking on condition of anonymity, agreed that Ruslan Kivan, the businessman's son, will take over the business. It is worth noting that the company's website contains only his father's photo.

Screenshot from the kadorrgroup website

The text indicates that Ruslan Kivan is a co-owner of the corporation, continues to adhere to the values of the family and the postulates of his father, and manages the main activities of the corporation.

Business representatives believe that attacks on business are likely. According to the business community, the company has built a strong management system and there are no grounds to expect any internal surprises.

However, in their opinion, Ruslan's level of connections and contacts is probably not as solid as his father's. The heir will have to make serious efforts to preserve the empire and not lose his position on the Ukrainian business map.

Ігор Льов