The competition is held by the Economics and Investment Department of the executive body of the Kyiv City Council (Kyiv City State Administration) in accordance with the Regulation on the procedure for conducting investment contests for the construction, reconstruction, restoration, etc. of residential and non-residential objects, incomplete constructions, engineering and transport infrastructure of Kyiv, approved by the decision of the Kyiv City Council, dated May 24, 2007 No. 528/1189, and the Prescript of the Kyiv City State Administration, dated 26.12.2017 No. 1680 "On the conduction of the investment contest to attract investors to the building a tower with a circular view on the Kreshchatuy park area."
The above-mentioned Prescript defines the Central Park of Culture and Rest of Kiev as a customer of the project implementation, and a municipal company "The Kyiv Investment Agency" to carry out preparatory (pre-investment) work.
Implementation of this Prescript does not require material expenses from the city budget, and also will allow to attract investment resources to the city's economy and will increase the level of tourists attractiveness to Kiev.