Ludmila Simonova – President of IRE (Ukraine) LLC and Partner, Thomas and Simonova

Ludmila Simonova
Ludmila Simonova

Ms. Ludmila Simonova is an American-Certified Appraiser and Senior Accredited Member of the American Society of Appraisers (ASA) – the only Ukrainian citizen to be сertified.

Ludmila serves as a Vice-President of the European Chapter of the ASA. She is also a Certified Ukrainian Appraiser and a Founding Member of the Ukrainian Society of Appraisers (UTO), Fellow UTO Appraiser, Member of the Board and Chair of the International Relations Committee.

She was the lead author of Ukraine’s National Standards of Appraising, developed on the basis of IVS Standards in 2003- 2006, and co-author of the IVS-2017 translation in Ukrainian.

Since 2020 Ludmila Simonova was appointed to Tangible Assets Standards Board of IVSC

Ludmila specializes in business and asset valuations for large and complex companies undergoing international audit located throughout Ukraine, Russia, Eastern Europe, USA and Central Asia.

Ludmila has worked on over 400 appraisal assignments covering a broad range of assets, purposes and uses. Asset valuations have included:

Land (vacant and improved); commercial and residential real estate; industrial real estate; hotels and retail facilities, all in compliance with International Valuation Standards (IVS); more than 50 total fixed asset valuations according to International Financial Reporting Standards (IFRS) for firms undergoing international audits by Big-4 firms. Ludmila has supported litigation in the High Court of London; corporate and project debt and equity financing; company acquisition, sale, liquidation and privatisation; and financial due diligence. Her clients, projects and companies have covered a broad range of economic sectors including: energy (e.g. oil and gas production, refineries, electricity distribution), industrial (e.g. metallurgical, cement, manufacturing, military production and portfacilities), agriculture, agribusiness (milk and meat processing, grain storage and export terminals, equipment and input distribution), financial institutions (banks), real estate developers, and public utilities.



Personal Contact information:  lns@ire.kiev.ua

Paul R. Thomas – President IRE (USA) Inc. and Partner, Thomas and Simonova

Paul R. Thomas
Paul R. Thomas

Mr. Thomas is an industrial economist and financial analyst with over 30 years of direct international experience, including 20 years of experience in the appraisal industry in Ukraine. He specializes in market valuation of real estate, land, development projects, appraisal report review, and financial due diligence.

For 8 years as an economic research director at the United States Bureau of Mines, Mr. Thomas was responsible for international mineral supply analysis and worked worldwide conducting on-site enterprise evaluations from mining through refining. For 7 years as Vice President and President of the Economics Institute of the American Economics Association, located at the University of Colorado at Boulder, Colorado, he was responsible for international business development and worked directly with a large number of foreign government ministries, banks, financial institutions and private businesses around the world.

Mr. Thomas is an adjunct professor of Economics and Business who has designed academic programs and taught business and economics courses for the University of Colorado at Boulder, Colorado; the Colorado School of Mines at Golden, Colorado; Carnegie Mellon University in China, and in several countries, including Vietnam, Indonesia and Venezuela on behalf of the Economics Institute. He has authored numerous publications in the fields of industrial economics and asset and business valuation. He is a Practicing Affiliate Member of the U.S. Appraisal Institute and was co-developer (with Ms. Simonova) of two advanced international appraisal courses developed for the U.S. Appraisal Institute: (1) Valuation in Challenging Markets and (2) International Financial Reporting Standards for the Real Property Appraiser.

Personal Contact information:  Pthomas306@aol.com

OLGA BUKREYEVA, partner Thomas and Simonova

Mrs. Bukreyeva is an expert in the real estate market, a lawyer specializing in both primary and secondary real estate markets, and the author of a platform solution for creating an IT service for the asset market. She has experience in overseeing large development projects, managing the Department of Urban Planning, Architecture, and Land Affairs for the municipality, and managing the Department of Land and Property Resources at PJSC ‘Ukrzaliznytsia.’ At the initiative of Mrs. Bukreyeva, projects were developed between 2004 and 2008 to establish protective zones for the historical center of the city and for the construction of new residential neighborhoods.

To support development projects such as the reconstruction of international airports, railway transport infrastructure, and highways, Mrs. Bukreyeva initiated the development and creation of a property management system for land and property complexes, which served as a prototype for a real estate cadaster. For the first time in Ukraine, information from urban planning, land management, and project documentation was combined in a single window, along with a module for displaying 2.5D floor data in the real estate cadaster. In 2023, Mrs. Bukreyeva continues to develop the Integrated Information System for asset markets (movable and immovable) with the principle of a 4D real estate cadaster.