Ukrainian developers are diversifying their risk and building more in Europe and Asia.

Due to the war, Ukrainian developers have intensified their foreign construction projects against the backdrop of a slowdown in Ukraine’s primary housing market. In 2022-2023, about 100 million square meters of housing were destroyed or damaged, with losses amounting to $55.9B. The number of residential projects declared for commissioning in Kyiv is indicative. There are 118 such projects in 2024, abd next year there will be 52 housing complexes commissioned, and in 2026 and future years only nine housing complexes have been declared, according to an E&Y study.

In the pre-war year 2021, Ukrainian developers sold apartments in 226 new buildings in Kyiv alone. In response, several Ukrainian development companies have started projects in European and Asian countries. In December last year, the Taryan Group started building a hotel resort on the island of Bali.

In August of this year, Interhal-Bud said that it is involved in the construction of housing complexes in Hungary and Germany. The ANTA Group develops projects in two markets – Antalya (Turkey) and Bali (Indonesia). Big Waves Development is building an apartment complex in Bali and a complex of villas in Berava.