S1 REIT Opens Sales for Poznyaki Fund

The fund targets a projected return of 9% a year in U.S. dollars, a figure that will appeal to Ukrainians looking for dollar-linked preservation of capital rather than conventional bank deposits or cash holdings. S1 REIT also adds a more unusual feature: investors can keep accumulating certificates and later swap them for completed apartments, giving the product both an investment and a homeownership path.

The underlying project is 80 apartments covering 2,828 square meters in a 24-story income property near Silver Key Lake and two minutes from Kyiv’s Poznyaky metro station. The development includes about 1,500 square meters of internal amenities such as a coworking area, gym, lounge, cinema room, children’s room and shelter, plus roughly 7,000 square meters of commercial space on the lower floors.

The fund’s total issue size is UAH 250 million, with the building scheduled for completion at the end of 2028. Investors can apply online through S1 REIT, which sits within S1 Group and combines development expertise from Standard One with property management from S1 Property.

For investors, the key question is execution: the projected yield is not guaranteed, the project is exposed to construction, market and war risks, and the certificates do not provide the same liquidity as listed REIT shares. Still, the launch shows how Ukrainian developers are using collective investment vehicles to attract smaller checks into prime urban housing, a segment that could gain traction if inflation and long-dated savings needs remain elevated.