$286 million Married with two sons Interests: residential real estate development, agriculture
People who closely follow real estate development in Ukraine know that Mykola Tolmachev gets the job done, notwithstanding credit crunches.
He delivers on building projects when others freeze up. And that has meant sometimes resorting to bartering schemes in order to survive.
When Tolmachev received a $38 million (Hr 310 million) loan in February 2009 when banks were not lending, he refused to say who gave it to him and on what terms.
Gvardiya Magazine in November named him the “most responsible” builder for fulfilling investor and creditor obligations.
We are exchanging property for building materials. People didn’t believe that the times of barter are returning. But they have returned, whether you believe it or not.”
– Mykola Tolmachev.
For example, last year his TMM company completed construction of two residential complexes and is on the verge of completing five more projects in Kyiv and Kharkiv.
Only bureaucratic red tape has held up his projects.
And Tolmachev keeps his word. In 2009 when construction was all but dead in Ukraine he found ways to get projects done.
He told Korrespondent magazine: “We are exchanging property for building materials. That accounts for almost half of our turnover… People didn’t believe that the times of barter are returning. But they have returned, whether you believe it or not.”
We believe it, and so does BG Capital, which estimated that TMM will grow 30 percent this year in comparison to last year.
Tolmachev also puts his money where your mouth is.
He is a majority shareholder of Sintal, an agribusiness that controls 100,000 hectares of land.
Unperturbed by the global financial meltdown, Sintal went public in October 2010, raising $13 million.
