Gennadii Butkevych’s BGV Group Management is continuing its investment activity in the Zhytomyr region. In early July 2025, Power Place LLC, a company within the BGV Group, received approval from the Antimonopoly Committee. In August, the company finalized an agreement to acquire Zhytomyr Investments LLC, the owner of the Central Department Store (TSUM) building in Zhytomyr.

The Zhytomyr Central Department Store, located in the city center, is an integral part of the city’s history. This four-story building, which includes a basement, was constructed in 1961 in the typical architectural style of the Soviet era. It offers a total usable area of 4,572 square meters. However, the property is in need of substantial capital investment, as it has not undergone major repairs for several decades. A recent inspection and technical assessment confirmed the urgent need for restoration work. Key requirements for continued operation include repairing the roof, replacing all internal engineering networks, insulating the building, restoring interior finishes, and incorporating inclusive features for accessibility. At the same time, BGV Group Management, as the new owner of the Central Department Store, considers it essential to preserve the building’s distinctive facade, which serves as an architectural landmark for Zhytomyr.

“The relaunch of the Central Department Store should give an impetus to both the development of the urban environment and the strengthening of economic activity. Currently, potential investment scenarios are being developed for the operation of the acquired building and its premises, focusing on customer orientation, comfort, and appeal for both residents and visitors of Zhytomyr. This marks the second regional retail development project for BGV Group Management. In April 2025, the company opened the ‘ZHYTO’ shopping center in Zhytomyr, which now attracts 120,000 monthly visitors – a figure that continues to grow,” shares BGV Group Management CEO Oleksandr Naumyk.

It should be noted that in April 2025, BGV Development (a separate division of BGV Group Management specializing in development) opened the ‘ZHYTO’ shopping center in Zhytomyr. The shopping center covers a total area of 3,811 m². It is designed as a retail park, featuring individual street-level entrances to stores, parking adjacent to the facades, and convenient store placement for quick access. Unlike traditional malls with internal galleries, ZHYTO boasts open architecture. The center consists of two levels: a basement and a first floor. For guest convenience and increased accessibility, a panoramic elevator has been installed. The center accommodates space for 15 stores and cafes, featuring businesses from a range of price categories and segments, including outlets of well-known brands.

For the past decade, Gennadii Butkevych and his Group of Companies have focused strategically on developing the Zhytomyr region. Since 2015, more than 3.5 billion hryvnias have been invested in the creation and growth of projects spanning the mining, construction, development, recreation, education, and sports sectors in the region.