Key facts
- Eric Schmidt and Wendy Schmidt reportedly acquired a 36% stake in seven Kyiv real estate companies.
- The investment is estimated to be worth between $55 million and $70 million.
- The properties include business centers and a logistics complex managed by Dragon Capital.
- The investment is viewed as a positive sign for Ukraine's wartime investment climate.
- The Piramida shopping center reported a profit of $10.3 million in 2025.
Former Google CEO Eric Schmidt and his wife, Wendy Schmidt, have reportedly invested between $55 million and $70 million in seven Kyiv real estate assets. The investment, acquired through a combined 36% stake in companies under the Dragon Capital group, was first reported by Forbes Ukraine. The portfolio includes commercial properties such as the Eurasia and Prime business centers, the Piramida shopping and business center, and the East Gate Logistics complex.
This investment is being welcomed in Ukraine as a rare instance of foreign capital entering the country during wartime. Officials and business leaders view it as a positive signal to other potential investors, despite the inherent risks associated with operating in a country under conflict. "Ukraine remains a country with high risks and high expected returns," stated Volodymyr Landa, head of investment screening at the Economic Security Council of Ukraine. "Investors who acquire Ukrainian assets now will generally benefit when the war ends."
The commercial real estate market in Kyiv has shown signs of recovery, with the seven companies reportedly experiencing revenue growth last year. The Piramida shopping center, for example, generated $10.3 million in profit in 2025, an 11% increase year-over-year. While the market is cheaper due to wartime conditions, it carries significant risks, including potential damage from Russian attacks.
Andy Hunder, president of the American Chamber of Commerce in Ukraine, noted that investors today understand there is a "premium for bravery" and that those investing now are positioning themselves for future growth and reconstruction. Eric Schmidt is already familiar with Ukraine's business environment and also leads Swift Beat, a defense firm developing AI-driven drones for Ukraine.