'Great news for Ukraine's investment climate' — What we know about ex-Google CEO's Kyiv real estate investment
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News of former Google CEO Eric Schmidt's reported investment in seven real estate assets in Kyiv has been welcomed in Ukraine as a rare example of foreign investment during wartime and an encouraging sign to other investors.
Forbes Ukraine first reported on June 8 that Schmidt and his wife, Wendy Schmidt, had acquired a combined 36% stake in seven companies under the Dragon Capital group, a major Kyiv-based investment firm.
While the deal has not been made public, Forbes reported that changes in the ownership structure appeared in the YouControl system, an open-data source, between late May and early June. Forbes estimates that the couple's share is worth $55 million to $70 million.
According to Forbes, the portfolio includes the Eurasia and Prime business centers, the Piramida shopping and business center, and the East Gate Logistics logistics complex. The Schmidt's share ownership with the family fund of Tomas Fiala — the CEO of Dragon Capital — as well as investors Anton Schreider and Maksym Klimov.
Dragon Capital declined to comment on the deal when reached for comment by the Kyiv Independent.
"Tis is great news for Ukraine's investment climate," Volodymyr Landa, head of investment screening at the Economic Security Council of Ukraine, told the Kyiv Independent.
"Ukraine remains a country with high risks and high expected returns. Investors who acquire Ukrainian assets now will generally benefit when the war ends."
The revenue of all seven companies grew last year as Kyiv's commercial real estate market rebounded amid growing demand for retail space and declining vacancies in shopping centers.
One of the companies, the Piramida shopping center, generated Hr 463 million ($10.3 million) in profit in 2025, an 11% increase year over year, Forbes reported.
Ukraine's real estate market has been largely ignored by the few foreign investors entering the country during Russia's full-scale invasion. It carries significant risks, especially in cities like Kyiv, where Russian attacks frequently damage commercial properties. However, assets are generally much cheaper than before the war for investors willing to take the risk.
"Companies investing today understand that there is a premium for bravery — those willing to invest now are positioning themselves to benefit from one of the most significant growth and reconstruction stories of the coming decade," Andy Hunder, president of the American Chamber of Commerce in Ukraine told the Kyiv Independent.
Schmidt, who led Google from 2001 to 2011, is already familiar with Ukraine's business landscape. He is also the CEO of Swift Beat, a defense firm that develops AI-driven drones for Ukraine.
The company signed a memorandum with Ukraine's Defense Ministry last year to scale up production of anti-Shahed interceptor drones.
