The Law of Ukraine “On amendments to certain laws of Ukraine on promoting construction activity” # 509-VI, that came into force on October 14, 2008, was met by the real estate specialists as a construction revolution.

The Law introduced amendments to the Land and Civil Codes of Ukraine, the Law “On land lease” and a number of development and construction laws. In general the Law is intended to secure the investments in the construction area and include the amendments in order to simplify and shorten the construction procedures. The law also introduced significant changes in the land relations concerning the land auctions, more detailed procedure of land allocation and other issues intending to simplify the procedures in this area as well.